The economic interaction between China and the countries of One Belt and One Road becomes more and more frequent and their trade relation is more and more close. This paper divides the countries of One Belt and One Road into such six areas as northeast Asia, southeast Asia, south Asia, middle Asia, west Asia and east and middle Europe, and uses value-added trade calculation to analyze the trade situation of China with the countries of One Belt and One Road during 2001-2013. The results show that the total amount of trade between China and the countries of One Belt and One Road increases rapidly and has good development prospect, that the trade between China and northeast Asia, southeast Asia was mainly competitive while trade between China and west Asia, middle and east Europe was mainly complementary. Generally, the export from China to “One Belt & One Road” nations concentrated on textiles, garments, electronic products, mechanical equipments and other manufacturing products, but exporting structures of the“ One Belt & One Road” nations had great difference. The paper suggested that China should take effective measures according to the different trading relationships with “One Belt & One Road” nations of various regions, strengthen the cooperation in goods trade while developing new cooperation in services trade, pay attention to the mutual connectivity of communication infrastructure with the nations, and achieve mutually beneficial win-win cooperation by preferential trade arrangement.