Trade Policy Review for China: Continuing Globalisation Amidst the World Financial Crisis

The 2008 world financial crisis had led many industrialised countries to endure a significant decline in their GDPs. Though the Chinese government arranged a 4 trillion RMB stimulus package coupled with 30 trillion RMB of new bank credits in 2008-2010 to mitigate the impact of the world financial crisis, the growth of China's international trade declined to a single-digit level after 10years of rapid growth at more than 20% per annum since its WTO accession. The latest WTO Trade Policy Review for China is a timely piece of literature which provides excellent information on China's current economic situation, its trade and investment policies and government's priorities of policy support. In this article, we intend to reveal the latest development in the Chinese economy from the second half of 2011 and to predict what it may happen in the next a couple of years. China's determination to 'go global' has not faded and China can only become more open in the future.