The economic miracle -- China's transformation into a trade giant

Welcome to part four of a special series of BizChina programs celebrating the 60 years since the founding of the People's Republic of China.

A special series of BizChina programs celebrating the 60 years since the founding of the People's Republic of China

Our focus today is trade. China is now the world's third largest economy, in terms of foreign trade volume, as well as its second largest exporter. According to the latest report released by the World Trade Organization, China has just taken the lead as the world's export champion, surpassing Germany in the first half of the year. In the next 30 minutes, we will be looking at China's transformation into a trade giant over the past 60 years.

Professor Huo Deming, Peking University

Topic: China's achievements in trade sector; Factors contributing to trade growth; WTO entry helped boost China's trade

Q1: Professor Huo, how would you describe China's trade development over the past 60 years?

Q2: And in your view, what are the main reasons, or driving forces, behind this achievement?

Q3: Talking about driving forces, one more has to be mentioned, that's China's entry into the WTO in 2001. If we say that China's trade experienced huge development since the start of the Reform & Opening-Up Policy, we can also say that development has been eye-catching since China joined the WTO. Can you give your assessment of China's performance after the WTO entry? What improvements and changes did that move bring about?

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China's foreign trade over 60 years