International vertical specialization and the trade based on it has been one of the main focuses of trade economists in recent years. Based on a reviewing check of the representative publications on the issue,the authors of this paper introduced a model into the Chinese reality and measured the degree of the vertical-specialization-based trade of China in recent years. Then a regression method is used to check the correlations between the degree and the factors affecting it possibly. The results indicate that the machinery manufacture industry accounts for more than thirty percent of all China's vertical-specialization-based trade,meanwhile the percentage of textile industry is in the second place. The tariff has taken on a strong positive connection with the expansion of vertical-specialization-based trade. The sections with smaller industry scales and more small-and-medium-sized enterprises tend to possess the higher levels of vertical specialization.