China has become one of the world’s largest trading nations after it opened its doors to foreign trade and investment in 1978. China continues to maintain this status, with imports and exports totaling US$ 4.58 trillion in 2019, according to the World Trade Organization (WTO). In addition to its “open door policy”, China’s formal accession to the WTO in 2001 was also a key reason for its rapid rise in international trade, spurring additional growth and development in the Chinese economy. It has also helped integrate China further into the global economy, and reduce or eliminate trade barriers necessary for expanding market access in China for goods from other countries.
China has grown as a market for the trade in all types of goods, from commodities to industrial goods to consumer and luxury products. The growth of China has also been accompanied by significant legal and regulatory reforms required for acceptance into the WTO’s rules-based system of international trade between nations, and also due to pressure from trading partners.
By clicking on the links below, you will find information about important legal considerations or issues in regards to trading with China, namely trade related contracts, supplier due diligence, customs, and commercial disputes, and our related services.