China has opened its market wildly to the world and actively participated the process of globalization after becoming a member of the WTO in 2001.
Since 2002, the growth of import and export trade have continually accelerated above 21%. But in 2008 the global financial crisis stroke the export trade severely .
However, the export trade has started to revive gradually in March of 2009 and in the following year the import and export trade totaled approximately three trillion dollars, exceeding the average before the global financial crisis, becoming the recovery momentum of China.
After the global financial crisis, the global economic growth has gone into the downturn . Global consumption and international trade market is relatively limited. The major countries in the world rise the domestic economic stimulation plan, including many new trade protectionism, and strongly ask China to make RMB appreciate . These serious progresses threaten the export living space of the cheap "Made in China" products . China''s export trade development strategy is forced to face the enormous challenges.
This study adopts literature analysis, according to Chinese Ministry of Commerce, General Administration of Customs and other official website, the published report of foreign trade statistics, press releases as the main sources of data.
Concerning the impact of the global financial crisis on export trade of China, China''s export trade products, regions, the change in trade patterns, and the response of China to internal and external environment changes in export trade policy, its arising effects from the development of export trade, etc. proposed conclusions.
According to the study after the outbreak of the global financial crisis, China''s export trade enterprises still lack the core competitiveness, technology, and brands are still backward. The enterprises rely on government support to make the outward investment substantially , mergers and acquisitions of overseas assets. Besides, in order to improve the competitiveness of enterprises, China open up the market and recruit the foreign technology and talent at the same time.
However, to export trade enterprises, the economy needs long time to recover fully after the financial crisis. Especially, China''s trade frictions will increase with the slow economic recovery of Europe, and the U.S. while the China''s trade surplus continued to grow, and the RMB exchange rate become a national basis pressure; Moreover, the Europe lagged effects of the debt crisis gradually emerge, these are short-term difficulties China has to face immediately. Due to the lack of core technology and independent brand, the complex business transformation and upgrading in China development tardiness have become the major obstacles for a long time. China must pay attention to these important issues while developing its export trade business in the future.