China’s foreign economic policy: trading instruments

S.V. Tishchenko

Abstract. The purpose of the work is to analyze and evaluate the trading instruments used by the Government of the People’s Republic of China for the development of foreign trade. To achieve these goals, the tasks are defined: to identify the main instruments of China’s trade policy; to analyze the features of using the declared trade instruments in China’s modern economic policy. The object of the study is the instruments of trade policy declared by the Government of the People’s Republic of China. The subject of the study is the impact of measures taken by China on foreign trade turnover. The theoretical basis was the research of the World Trade Organization (WTO), the works of leading Russian scientists. The information base is the documents of the WTO, China, scientific publications on the topic. The work uses general scientific methods: analysis and synthesis, comparison, generalization; economic analysis. In the course of the work, the following trade instruments used by China to develop trade and increase the country’s foreign trade turnover were identified: 1) simplification of import procedures, reduction of import duties; 2) creation of “demonstration zones” to promote the import of goods and services; 3) implementation of the provisions of the Agreement on Trade Facilitation (TFA); 4) implementation of electronic document management in the field of licensing and trade; 5) use of “unifications” for customs clearance; 6) improvement of China’s Mandatory Certificate System (CCC); 7) development of cross-border e-commerce.

Keywords: trading instruments, China’s open economy, foreign economic turnover

For citation. Tishchenko S.V. China’s foreign economic policy: trading instruments. News of the Kabardino-Balkarian Scientific Center of RAS. 2024. Vol. 26. No. 1. Pp. 59–68. DOI: 10.35330/1991-6639-2024-26-1-59-68