This research utilizes the conservation of resources (COR) theory to examine the effect of supervisor-subordinate guanxi on the emotional exhaustion of the Thai subordinates working under Chinese supervisors at Chinese subsidiaries in Thailand. Specifically, this study examines the role of supervisor job autonomy and workload as moderators of supervisor-subordinate guanxi on subordinates' emotional exhaustion. Survey data were obtained from 201 dyads comprised of Chinese supervisors and their Thai subordinates at the subsidiaries of a Chinese multinational enterprise in Rayong, Thailand. A partial least squares structural equation model was used for data analysis. The analysis significantly supports the negative association between supervisor-subordinate guanxi effects on the emotional exhaustion of Thai subordinates. The effect of supervisor-subordinate guanxi is positively moderated by the Chinese supervisors' level of job autonomy. However, it is negatively moderated by the level of workload generally experienced by Thai subordinates at this organization. Findings support and advance previous research, illustrating that not every group of employees will benefit from guanxi equally; whether an employee benefits from guanxi depends on the supervisor's authority and the levels of workload.