Review: This article explores the peculiarities of China’s participation in the international economic system on the various stages and practice of People’s Republic of China on the changes in the international economic system. The author notes that the history of China’s participation in the international economic system consists of four stages: first stage – from 1949 to 1971; second stage – from the reinstatement of China’s lawful place in the UN (1971) to 1978; third stage – from the implementation of the policy of “reform and opening-up” (1978) to 2008; and forth stage – from the global economic crisis of 2008 to the present time. The goal of this research is to explain the causes for China’s dissatisfaction towards current international economic system, search for ways to resolve this problem, as well as determine the role that China wants to play on the international arena in the future. The author concludes that with the growth of the economic power and elevation of China’s international position, it attempts to develop its own variant or such reform of the international economic system that would correspond to the common interests of developing countries. At the same time, being the economic leader of the developing countries China will play an important role in the international economic system.  

Keywords: WB, internationalization of RMB, IFM, WTO, AIIB, China, reform and openness, international economic system, UN, world economy