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January 1979, the two countries established formal diplomatic relations. In July, the two governments signed the "Sino-US Agreement on Trade Relations", grant each other MFN status. China-US economic and trade has now entered the rapid development period. According to Chinese statistics, Sino-US trade in 1979 was 24.5 billion U.S. dollars in 1996 to reach $ 42.84 billion, 18-year total of $ 260.6 billion; since 1979, the United States to become China's third largest trading partner in 1996 became the second largest trading partner. According to U.S. statistics, bilateral trade in 1979 amounted to $ 2.37 billion in 1996 to reach $ 63.5 billion, 18-year cumulative $ 376 billion; 1980, China's 24th trading partner of the United States in 1995 rose to fifth place .

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