Abstract
Before 1979, the Chinese economy was a closed economy. With its opening up to the world economy there occurred dramatic changes in its external trade. A number of policies were introduced to promote export growth, and external trade expanded rapidly. Total imports and exports of China increased from $38.14 billion in 1980 to $474 billion in 2000, with an average annual growth rate of 13 per cent. The share of exports in GDP increased from 5 per cent in 1978 to 23 per cent in 2000. In this process, a number of distinctive structural changes took place in terms of product composition, market distribution, trade mode and major trade partners. This chapter reviews the trade policy, trade performance, and the structure and main features of China’s exports since the 1980s. This review will provide the necessary background for further investigation of the impact of exports and FDI on economic development in China in Chapters 5–9.KeywordsReal Exchange RateTotal ExportNominal Exchange RateAverage Annual Growth RateExport PromotionThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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