Seven Decades of China’s Foreign Trade: Growth and Structural Improvement

Yue Yunxia
Institute of Latin American Studies (ILAS), Chinese Academy of Social Sciences, Beijing, China

Abstract: Over the past seven decades since the founding of the People’s Republic of China in 1949, China has continuously increased its import and export volumes along with improving its trade structure, becoming a major trading nation and making progress toward a trading power. In the 13th Five-Year Plan period (2016-2020), China has experienced acceleration in its foreign trade structural adjustment under its opening-up strategy, and the function of foreign trade has shifted from being a driver for growth to being a way to balance development. China is expected to continue its trade growth momentum and structural improvement and strengthen its trade competitiveness. In achieving this vision, China should make efforts to increase structural equilibrium, create a favorable external trade environment, and pave the way for trade growth and sustainablem development.

Keywords: foreign trade, trade growth, qualitative improvement, trade structure, trading power

JEL classification code: F13, F14
DOI: 1 0.19602/j .chinaeconomist.2019.7.03