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Review of China's Foreign Trade in the Past 70 Years and Its Prospects

【Authors】
SHENG Bin, WEI Fang
【WorkUnit】
SHENG Bin (Nankai University, 300071)WEI Fang (Dongbei University of Finance & Economics, 116023)
【Abstract】

In the past seventy years, China's foreign trade has achieved great achievements marked by the increased trade volume, upgraded structure, diversification of the market players and the expanded market. China has become a veritable world manufacturing and trade center. China's foreign trade policy focus has shifted from statecontrolled protection trade to quality-oriented opening-up on all fronts through gradual trade liberalization. During this period, the development of China's trade has presented four transformations: the transformation of the strategy from import substitution to trade balance, that of the target from trading quantity to trading quality, that of the policy system from border measures to regulatory convergence, and that of the drive force from factor advantages to comprehensive advantages. Facing the increasingly complex domestic and international environment, China needs to realize the transformation from a large trader to a strong trader, develop new trade products and new business forms, strengthen the coordination of trade policies and industrial policies, and have a greater say in global economic governance.

 

JEL:F13, O24

【KeyWords】
Foreign Trade, Trade Liberalization, Opening Up on All Fronts, Trading Power