Before the foundation of Peoples Republic of China in 1949, Chinese economy was extremely lagged behind. Today, China has developed into an economy power with the world greatest potential to blossom. According to data released by IMF in 2010, Chinas GDP per capita reached USD 3600, ranking 99 in the world. China has become worlds second largest economic entity.
When it decided to reform the national economic setup in 1978, the Chinese government embarked on a policy of opening to the outside world in a planned way and step by step. Since 1980, China has set up special economic zones and open economic zones, and later the Western Development Program joined in 2000, which has formed a multi-level, multi-channel, multi-directional and diversified pattern of opening in China.
In Commodity Volume of World Import and Export, China ranked 27 in 1978, 16 in 1990, 8 in 2000 and 2 in 2010.Today, China has developed trade with over 220 countries and regions, among which Chinas ten largest trade partners are: EU, USA, Japan, the Hong Kong Special Administrative Region, ASEAN, South Korea, Taiwan Province, Russia, Australia and Canada.