On Nov. 15, 1999, Shi Guangsheng, Minister of Foreign Trade, and xx, American trade representative, signed the agreement forChina's entry to WTO.
Opening to the outside world has greatly promoted the development of China's foreign trade. China's import and export volume increased from 1.13 billion US dollars-worth in 1950 to 360.65 billion US dollars-worth in 1999, or an increase of 319 times. The total import and export volume in 1999 increased by 17.5 times, as compared with that in 1978. In terms of foreign trade, China ranked 32nd in the world in 1978, and rose to ninth in 1999
Over the past 21 years, great changes have taken place in China's import and export trade. First, the structure of import and export commodities has been constantly improved. The export volume of primary products, with food, agricultural and sideline products, and crude oil as the mainstay, has been reduced by a large margin¡ªfrom 53.5 percent of the total export volume in 1978 to 10.2 percent in 1999; and the proportion of industrial products increased from 46.5 percent in 1978 to 89.8 percent in 1999. Remarkable progress has been achieved in the export of machinery and electrical products, rising from 1.41 billion US dollars-worth in 1980 to 77 billion US dollars-worth in 1999. Second, foreign-invested enterprises, which grew from nothing, have become new factors contributing to the growth of China's foreign trade. In 1981, the export volume of foreign-invested enterprises made up 0.1 percent of China's total export volume, and 0.5 percent of the import volume. By 1999, the export volume of foreign-invested enterprises made up 45.5 percent of China's total, and the import volume, 51.8 percent. Third, China's international trade market is becoming more diversified. In 1980, nearly 180 countries and regions had trade exchanges with China, a figure which rose to 228 in 1999. In 1999, along with the recovery of the Asian economy, China's exports to other Asian countries restored growth, and its exports to North America, Europe, Oceanic and Africa constantly grew. Fourth, foreign trade has been expanded through various flexible trading forms. Processing trade and small-scale border trade have increased by a large margin. A situation in which ordinary trade, processing and assembling with supplied or imported materials, and small-scale border trade are competing with each other for development has been formed.
While running the special economic zones, China has undertaken a series of reforms in the foreign trade system, such as expanding local governments' examination and approval authority over foreign trade and exports, and enlarging foreign trade enterprises* autonomy over export trade and operations. Consequently, the old system featuring monopolized operation by the state, highly centralized management, integration of government administration with enterprise operations and the state assuming responsibility for profits and losses has basically been changed: The state has gradually cut back on mandatory plans for foreign trade enterprises, and a management system which indirectly regulates and controls foreign trade through Customs duties, foreign exchange rates, credits and tax refunds has been put in place step by step.
See more about Opening to the outside world
 |
For
payment, trip cancellation, please refer to the Terms &
Conditions |
| For more information, please
feel free to contact us at 1-800-865-6221 or email to
us at info@chinacustomtours.com
|
China Tours 
Opening to the outside world 
About Opening to the outside world