Chinese children routinely outperform American peers in standardized tests of mathematics knowledge. To examine mediators of this effect, 95 Chinese and US 5-year-olds completed a test of overall symbolic arithmetic, an IQ subtest, and three tests each of symbolic and non-symbolic numerical magnitude knowledge (magnitude comparison, approximate addition, and number-line estimation). Overall Chinese children performed better in symbolic arithmetic than US children, and all measures of IQ and number knowledge predicted overall symbolic arithmetic. Chinese children were more accurate than US peers in symbolic numerical magnitude comparison, symbolic approximate addition, and both symbolic and non-symbolic number-line estimation; Chinese and U.S. children did not differ in IQ and non-symbolic magnitude comparison and approximate addition. A substantial amount of the nationality difference in overall symbolic arithmetic was mediated by performance on the symbolic and number-line tests.