In accordance with co-integration method and VEC model, this paper discusses the long-term trend and short-term fluctuation characteristics between services imports (or exports) and FDI in services sectors based on the data from 1997 to 2014 in China. The result shows that there exists a long-term stable equilibrium relationship between themn and it is concluded that unbalanced error pulls the adjustment of short run departure to long-term equilibrium. Also there exists a two-way granger causality between services exports and FDI in services sectors and one side ranger causality between services imports and FDI in services sectors. The impulse response function and variance decomposition diagram shows that trade in services exports, imports, an impact of services FDI inflows will have an impact on themselves and other endogenous variables. The contribution rate of service trade import and export to service industry FDI has been rising, and the contribution rate of service industry to import and export of service trade has shown a relatively stable trend.