对外直接投资(FDI) 与进出口贸易的关系因各国的具体国情不同、各学者的研究方法的不同而呈现出显著的差异。文章采用协整理论分析中国的对外直接投资与进出口(1995-2007年) 的关系，得出对外直接投资与出口、进口在短期存在替代效应，在长期存在互补效应，并计量出中国FDI与出口和中国FDI与进口的误差修正模型。最后，提出了相关政策建议。

The relations between Chinese FDI and foreign trade(import and export trade) depend on the specific conditions of different countries. Various scholars made significantly different results as they had used different methods  This article, taking use of cointegration theory, analyzes the relations between Chinese FDI and foreign trade (1995-2007) , and the outcome is : there are substitution effect in longterm and complementary effect in shortterm, besides, we make the error correction models both of Chinese FDI with import and Chinese FDI with export  At last, it’s the conclusion analysis and policy recommendations

教育部留学回国人员启动基金“中国对外直接投资绩效与对策研究”（102063820080009）