Abstract: By making use of the panel data of the 14 sectors of China’s manufacturing industry and the cross-border data from 2002 to 2014 and employing the spatial stochastic frontier estimation method, this paper investigates the impact and influence of energy prices distortion on the distribution pattern of the real trade gains from China’s manufacture industry under the global production model. The result shows that, on the whole, the increasing energy price distortion has significantly hindered the improvement of the real trade gains of the manufacturing industry, and this kind of adverse effect is more prominent in the economic and trade contacts between China and the advanced countries and regions. The regression result of the development model shows that energy price distortion has a more significant negative effect on the real trade gains embedded in the final consumption export. The rising of contract intensity and the degree of technology intensity has weakened the adverse effect of energy price distortion on the real trade gains.

Key words: real trade gains, energy price distortion, contract intensity