The history of china foreign trade

when did china open up to trade

One classic account of this period is Carl Crow 's Million Customers, a humorous but realistic guide which has lasting insights. The opening up policy led to the reorganization and decentralization of foreign trade institutions, the adoption of a legal framework to facilitate foreign economic relations and trade, direct foreign investment, the creation of special economic zonesthe rapid expansion of foreign trade, the importation of foreign technology and management methods, involvement in international financial marketsand participation in international foreign economic organizations.

what is chinas trade policy

In China exportedbatches of food to the United States, with Since the new Law on Labor Contracts and its implementation regulations took effect inimport and export enterprises have established the system of "five insurances" old-age insurance, medical insurance, unemployment insurance, work injury insurance and maternity insuranceas well as a housing fund.

Byall of China's commitments made upon entry into the WTO had been fulfilled. China has promised to continue expanding its preferential treatment to the LDCs having diplomatic ties with China until the zero-tariff commodities reach 97 percent of the total imports from those countries.

China trade statistics

Foreign trade between China and Republic of Korea keeps growing constantly and steadily. In most urban retail and service establishments, including state, collective, and private businesses or vendors, were located either in major downtown commercial districts or in small neighborhood shopping areas. China remains a developing country. China enjoys steady growth in its trade with developed countries, and realizes complementary advantages as well as reciprocity and mutual benefit. China attaches great importance to the institutional set-up of bilateral and regional economic and trade cooperation. Since the Chinese government has lowered and even abolished export tax rebates for some energy-intensive, heavily-polluting and resource-based products, banned or limited the processing trade in some such products, and encouraged import and export enterprises to keep up with the world's advanced environmental standards. Imports only made up for shortages in domestic production of essential raw materials and capital goods. In addition to state-owned enterprises, foreign-invested enterprises and private enterprises also engage in foreign trade, and their total value of import and export has each exceeded that of the state-owned enterprises. These changes created a "socialist planned commodity economy," essentially a dual economy in which planned allocation and distribution are supplemented by market exchanges based on floating or free prices. In addition, personal income and value-added taxes were implemented at that time. First, although the volume of foreign trade remained limited initially, there was a notable expansion in the diversity of products, with many new goods being imported into China.

Advocating the Scientific Outlook on Development and the idea of a harmonious society, Chinese governments at all levels encourage enterprises to enhance their sense of social responsibility, respect labor rights, safeguard consumers' rights and protect the ecological environment.

Table The number of wholesale produce markets increased by percent between andreaching a total of 1, and easing pressure on the state produce distribution network, which had been strained by the burgeoning agricultural production engendered by rural reforms.

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History of trade of the People's Republic of China