Executive functioning (EF), an umbrella term used to represent cognitive skills engaged in goal-directed behaviors, has been found to be a unique predictor of mathematics performance. However, very few studies have examined how the three core EF subcomponents (inhibition, shifting, and working memory) predict the growth parameters (intercept and slope) in mathematics skills and even fewer studies have been conducted in a non-Western country. Thus, the purpose of this study was to examine how inhibition, shifting, and working memory predict the growth parameters in arithmetic accuracy and fluency in a group of Chinese children (n = 179) followed from Grade 2 (mean age = 97.89 months) to Grade 5 (mean age = 133.43 months). In Grade 2, children were assessed on measures of nonverbal IQ, number sense, speed of processing, inhibition, shifting, and working memory. In addition, in Grades 2–5, they were assessed on arithmetic accuracy and fluency. Results of structural equation modeling showed that nonverbal IQ, speed of processing, and number sense predicted the intercept in arithmetic accuracy, while working memory was the only EF subcomponent to predict the slope (rate of growth) in arithmetic accuracy. In turn, number sense, speed of processing, inhibition, and shifting were significant predictors of the intercept in arithmetic fluency. None of the EF subcomponents predicted the slope in arithmetic fluency. Our findings reinforce those of previous studies in North America and Europe showing that EF contributes to mathematics performance over and above other key predictors of mathematics, and suggest that different EF subcomponents may predict different growth parameters in mathematics.