Foreign Trade and Trade Policy of Communist China

Kiyoshi Takase

Chinese Economy, 1970, vol. 4, issue 1, 3-43

Abstract: China's foreign trade before the establishment of the Communist regime, like various other areas of the economy, was under the rule of foreign capital. Eighty percent or more of foreign trade transactions was handled by foreign commercial firms in China (in 1936, 771 firms from 22 countries, excluding Japan) [1]. Because of this, many Chinese merchants were only playing the role of compradors. Trade was 90% or more (as of 1930) financed by foreign banks, and in shipping, too, foreign ships accounted for 93% of cargo loading (as of 1940). China lost its tariff autonomy in the Nanking Treaty (1842) (>u>1>/u>), and almost all tariff revenue based on the loss of the tariff autonomy right was used to repay the foreign loans to China.

Date: 1970
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