Although as of October 1966 Communist China has been diplomatically recognized by only fifty countries' and thus still remains outside the world legal community, it has trade relations with more than 120 countries and regions. The annual volume of Peking's foreign trade has been estimated at 2.96 billion dollars in 1963 and 4.5 billion dollars in 1966. The latest Western reports from Peking indicate that foreign buyers and sellers see in "China's 700 million people a market with dazzling prospects and a potential source "of supply of goods they can market profitably in their countries." The official organ of the Soviet Government has also hinted that the growing United States export to Hong Kong in 1965 was connected with the increasing purchase of United States goods by Communist China through "go-betweens." Irrespective of the political implications underlying Peking's growing trade with non-socialist countries, for academic interest this state of affairs necessitates an injury into the structure of the regime's foreign trade organization and the legal mechanism by which the regime has carried out its foreign trade policy and activity.
Gene T. Hsiao,
Communist China's Foreign Trade Organization,
20 Vanderbilt Law Review
Available at: https://scholarship.law.vanderbilt.edu/vlr/vol20/iss2/4