Based on the CEPII BACI database, we use the relative trade advantage index and bilateral trade complementarity coefficient to examine the trade relations between China and Japan on the product sectors of goods. The main conclusion is that industrial manufactured goods are the key to international competition in Chinese industries, while Japan’s core industries for international competition are mainly capital-intensive and knowledge-intensive industries. The comparative advantages of China’s resource-intensive and energy-intensive industries have been initially realized to some labor-intensive industries, capital-intensive industries and knowledge-intensive industries. However, the analysis of the manufacturing industries in both countries shows that China’s low-tech manufacturing industry and some medium-and high-tech manufacturing industries have the comparative advantage of foreign trade. Japan’s high-tech manufacturing industry has a high level of foreign trade competition. In addition, the anti-globalization will instead cause the trade relations between China and Japan to shift toward complementary directions. The complementary relationship is mainly reflected in the vertical trade between the two countries.