Based on the trade flow changes caused by phased tariff reductions under the FTAs signed by China from 2002 to 2017, we use the panel fixed-effect model to empirically examine the influencing factors such as economic scale, per capita income, geographical distance, and natural endowment on the trade creation effects. The main findings are as follows: the FTAs brought significant trade creation effects to China and its trading partners, and with the increasing similarity of the trading partners, the trade creation effect was more significant. What’s more, partners’similarities in economic size, income and location among them affected the trade flows under an FTA; the differences in natural resource endowments did not play a significant role. The study provides suggestions for the establishment of China’s FTA strategic evaluation system, and the research findings offer a theoretical basis for the selection and negotiation of FTA trading partners.