Evolution and Prospect of China’s Foreign Trade Strategy Since Reform and Opening Up

China Business and Market - - NEWS - (Beijing Wuzi University,Beijing101149,China) SHENG Hao

Abstract:In the four decades of reform and opening,adapting to the economic development situation and objectives of different times in China,the evolution of China's foreign trade strategy has gone through four stages:improving the ability of earning foreign exchange to promote economic modernization(1978—1991);speeding up export expansion to drive high economic growth(1992—2000);optimizing export commodity structure to promote domestic industry upgrading(2001—2011); and accelerating the construction of a strong trade nation to realize the innovation driven economic development (2012— ). With the change of economic and technology development level,China's foreign trade strategy will focus more on technological innovation in export commodities. Since market mechanism and the expansion of domestic demand are basic conditions for the technological innovation of enterprises,China's foreign trade strategy should change the traditional thinking of realizing export growth and export product structure upgrading through direct policy support,and pay more attention to export- driven employment and income growth of residents,and rely more on market means to promote enterprise innovation. China's foreign trade policy should also consider making corresponding adjustments to make foreign trade play a better role in promoting domestic employment and consumption growth,and in promoting domestic R&D investment in intermediate products.

Key words:China's reform and opening up;foreign trade strategy;evolution;import and export


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