China's total export value ranked second in the world in the six decades

For six decades, China’s foreign trade has developed rapidly. Among them, the total volume of imports and exports in the world trade continues to rise. After 1978, China’s foreign trade grew rapidly. In 2008, the total value of imports and exports soared from 20.6 billion U.S. dollars in 1978 to 2561.6 billion U.S. dollars, with an average annual increase of 18.1%. Since joining the WTO in 2001, foreign trade has won the best and fastest development period in history. From 2002 to 2008, the total value of imports and exports increased at an average annual rate of 25.9%, and the total export value ranked second in the world. It has become an important global manufacturing processing and production base.
In the early years after the founding of the People's Republic of China, more than 80% of China's export commodities were primary products, while imports were mainly production equipment such as machinery and equipment. After the reform and opening up, the structure of import and export commodities has undergone fundamental changes. The proportion of industrial finished goods exports has gradually reached more than 90%, and fundamentally reversed the large number of primary products for export in exchange for passive imports of industrial products. Throughout the 1980s, the share of exports and imports of industrial manufactured goods increased significantly. In the 1990s, electromechanical products became the main commodity for import and export. Since the accession to the WTO in 2001, the composition of import and export products has further changed, and the export and import of high-tech products with the IT industry as its core have grown at a rapid rate.

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