This paper reviews recent developments in China’s fishery and aquaculture sectors, as well as the policies affecting rural households in general and fisheries households in particular. It explores how China’s policies may change as a result of the nation joining the World Trade Organization (WTO) in December 2001 and the likely impacts of these changes on China’s fishery and aquaculture sector. It was found that the domestic fish markets are gradually integrating, suggesting that fish price shifts in one area will affect prices in most parts of the country. It was also found that, compared with the prices of other agricultural commodities, the domestic prices of most aquatic products are well below world prices. This suggests that exports of aquatic products would be able to expand now that the nation has joined the WTO and that fishers would gain from this move.