Using the WIOD database and the KWW decomposition framework, this study calculates value added exports of 35 sectors in China from 1995 to 2011, and accordingly to get the VRCA. We also calculate the TRCA to trace the differences and dynamic characteristics of China’s comparative advantage under two statistical methods. To explore the differences between industries, this paper classifies manufacture and service industries according to their technology and factor endowments respectively. Besides, we select the United States as a reference. According to the results, China has a comparative disadvantage in the overall industry under the value added trade statistics. The manufacturing industry have significant comparative advantages but with a declining trend, and the comparative advantage of service industry is on the rise. Some sectors have a reversion in its comparative advantage. Compared with VRCA, TRCA obviously overestimated the true comparative advantage of China’s overall industry approximately to 12.94%. This overestimation is much larger in manufacturing sectors due to the prevalence of processing trade. From the industrial classification perspective, the advantage of low-tech manufacturing and labor-intensive service sectors in China is much higher in benefit of the “demographic dividend”. Compared with China, the main advantage sectors in the United States are concentrated in the service sectors though its overall VRCA level is close to China under the value-added trade statistics. The comparative advantages of medium-hightech manufacturing and knowledge-intensive service industries are more significant in the United States relying on its advance science and technologies. The TRCA underestimated the real comparative advantage of the United States, particularly in service sectors.