Abstract: Traffic rights are the concrete embodiment of national sovereignty in the economic field, and the exchange of traffic rights to foreign countries is the basis of international air transportation. Guided by the policy, China mainly opens and exchanges the first four types of traffic rights, and the fifth and seventh types of traffic rights on a pilot basis, with bilateral mode as the main mode, multilateral mode as the auxiliary mode and unilateral mode as the exception. In terms of opening traffic rights to foreign countries and participating in the exchange of traffic rights,China currently has some problems. The “state-regional” traffic rights exchange mechanism between the United States and the European Union realizes the efficient cooperation of traffic rights exchange under the nested bilateral mode and multilateral mode dominated by law. In order to improve the exchange of traffic rights to foreign countries, China should increase the supply of law, moderately expand the opening range of traffic rights under the guidance of law, and pay attention to the promotion of multilateral mode on the basis of coordinating various exchange modes, so as to realize the scientific and efficient exchange of traffic rights to foreign countries in China.