Question for Mandarin Chinese speakers...?

I really love this song, it's very short, not very many lines. It's in Mandarin Chinese I believe... I really want to know what each line means in English

http://www.youtube.com/watch?v=yzt9wyjHE_U

please don't just google then copy and paste. I've seen a couple differnt versions of an English translation. I know you can't translate everything exactly, I understand that.

I believe this is the lyrics in Chinese:
Hai tse men tsai dan tde chiu chian
Hai tse men tsai dan tde chiu chian
Hai tse men tsai dan tde chiu chian
de sha tian
Wo tsai suo suo, bu tchu co
Shia tian de shu guan lio tso
zong wa tsai ne de shing lee,
jo shang ee dwan shhh jiang

I pretty much know no Chinese, i'm completely clueless so sorry~!

I've only seen two translations and the first one is pretty odd to me and I don't know if it's even what the song is really saying...

In the summer I am happy
Bright stars bring me luck
In the summer I don't worry
China always protects me

In the winter I am sad
Sad because trees not so big
But in the summer I am happy
Long live the Party!

In the summer birds sing
Lucky, lucky, lucky
Pigs and cows become friends
Everyone still hates the rat

and another translation that seems to make more sense to me:

The children swing on the swings
The children swing on the swings,
The children swing on the swings,
in summer,
I'm just saying,
but not a sound
the time of summer slips away
It allows me,
in your heart,
to just to enjoy for a period of time.

Which one is a more accurate translation? I want to know ahhh! haha