The issues to be considered in this article include the nature of the changes made by the 2004 amendments, the sufficiency of these changes, what the changes mean for the future of China's foreign trade regime, and the challenges China will face in the new century. Following an overview of the history of China's foreign trade regime, the article examines the positive changes made in the 2004 amendments to the FTA 1994. The article will then analyze several areas which have not been addressed sufficiently in the FTA 2004 amendments. To further analyze the post-WTO-accession foreign trade regulation of China, the author examines the most recent and sensitive 2005 Interim Textile Exportation Regulation as an illustration of China's efforts to regulate specific industries. Finally, based on the previous analysis of China's trade laws in general (FTA) and in specific (Interim Textile Exportation Regulation), the Article will assess the larger legal challenges facing China as it moves toward a market economy, which will likely impact China's trade policy in the future.