China's Soybean Industry Development Prospects

Once as the origin and the largest producer and exporter of soybeans, China has however witnessed a dramatic increase in its soybean import in recent years. The future of China's soybean industry is currently a hot topic. Does China's soybean industry have a bright future? How to improve its competitiveness in global market? What should the state do to boost the development of the industry? This paper tracked the history of domestic soybean industry; analyzed its comparative advantage by means of RCA (Revealed Comparative Advantage); and attempted to find out the causes of the crisis in this industry. Based on the above analyses, some practical suggestions were given to expedite the development of soybean industry in China.