中文摘要：

贸易顺差和贸易收益问题一直是国际贸易领域研究的热点问题，随着贸易投资一体化的日益盛行，古典贸易理论已经无法解释当今的贸易现象和贸易收益分配问题。基于中间产品贸易和外商直接投资企业内部贸易的角度，短期内，高储蓄率是中国贸易顺差形成的原因；长期来看，中间产品贸易和外商直接投资企业的贸易是中国贸易顺差形成的主要原因。同时，由于中国的垂直专业化份额较低，巨额的贸易顺差并没有为中国带来福利的改进，反而使得中国贸易条件不断恶化，出现了福利净损失。

英文摘要：

Trade surplus and incomes is an hot issue in international trade research all the time. With the integration of trade and investment, the classical international trade theory is unable to explain the current trade and trade income distribution. We introduce FDI and the corporations＇ internal trade and analyze the reasons of china＇s trade surplus under the system of the division of elements. The study shows- in the short - term , high savings rate is the main reason of china＇s trade surplus; in the long run, the trade of FDI companies and intermediate products are the main reasons for china＇s trade surplus. Meanwhile, the vertical specialization share of our country is lower, a large trade surplus has not brought welfare improvement, it makes our country deteriorating.