Achievements and Challenges for the Development of China's Foreign Trade after the WTO Accession -- Analysis from the Perspective of Sustainable Development

Abstract

Remarkable achievements have been made on foreign trade since China’s entry into the WTO 14 years ago. However, China’s foreign trade is facing huge amounts of challenges in the meantime. For instances, from the perspective of trade sustainability, the way of extensive growth is causing increasing pressure on natural resources and environment; international trade frictions or disputes are also frequently happening; the export products are of low technology content and less competitive in the global markets. As the “Decision of the Central Committee of the Communist Party of China on Some Major Issues Concerning Comprehensively Deepening the Reform” puts, China intends to construct a new system of the open economy (NSOE). The strategic arrangement of the NSOE points out a right path for the development of China’s foreign economic relations in the new era. Meanwhile, it also puts forward new requirements of sustainable development to China’s foreign trade.