Based on Dynamic Panel Model and adopting GMM method, this paper studies the impact of China’s foreign trade structure on OFDI during 2003~2010. While the overall analysis of world sampls shows the impact of the proportion of manufactured goods export on OFDI is significant and positive, primary products import concentration, trade integration degree and the competitiveness of total goods export are significant but negative. Results of the analysis of developing countries sampls indicate that the competitiveness of manufactured goods export has a significant positive impact on OFDI, but the proportion of manufactured goods export and the competitiveness of total goods export have no influence.