中文摘要：

文章利用2003～2009年中国对40个国家的投资面板数据，通过引力模型对投资与贸易的关系进行研究。结论表明，中国对外直接投资与贸易既存在互补关系，也存在替代关系，且对外直接投资对零部件贸易的影响非常明显。这体现出中国企业正在以更加积极主动的方式融入基于产品内分工的全球生产网络，并在其中发挥更大的作用。

英文摘要：

This paper analyzes the relationship between FDI and trade by means of panel gravity model based on the data of China＇ s outflow FDI covering 40 economies from 2003 to 2009. It finds that the relationship between FDI and trade is one of coexistence and mutual replacement. In addition, China＇s outflow FDI has a very significant effect on the trade of parts and components. This implies that Chinese enterprises are more actively participating and playing a bigger role in the global economy and production network.