ABSTRACT
China’s foreign trade has been one of engines of China’s economic growth, expanding even more rapidly than its overall economic growth. With the rapid growth of the external sector, foreign trade is playing increasing role in the national economy. China’s trade to GDP ratio increased from 13 per cent in 1980 to 36 per cent in 1997. During the same period, the total value of China’s agricultural trade increased from $9.29 billion to $25.15 billion, with an annual growth rate of 6 per cent (Huang and Chen, 1999b). The pace of trade-led growth is expected to continue or even accelerate.
