One of the pilots bailed out at the last second, but another pilot was missing and presumed to be dead, according to air show officials.
The footage shows the jet sputtering and then nose-diving into a field outside the northern city of Xi'an as one of the pilots ejected from the cockpit and landed beneath an open parachute. That pilot had minor injuries.
The two-seater plane burst into flames in a fiery crash.
Investigators said it looked like the other pilot's seat did not eject. The plane crashed more than a mile from the nearest spectators.
The cause of the accident was under investigation.
The Associated Press contributed to this report.
