China and the Soviet Union have signed a trade agreement for this year, the New China News Agency reported, saying the ceremony was held Monday in Moscow.

The official agency gave no estimate of the scope of the trade that the pact will regulate between the rival powers but Chinese sources in Moscow said it provides for exchange of goods worth $484 million, down sightly from last year's accord. Despite their strained relations, it is estimated that about $300 million in trade actually was transacted last year.

There was no immediate Soviet announcement of the signing.

Two-way trade between the United States and China totaled about $1.2 billion last year, and that between China and Japan $5 billion.

A major item in continuing Soviet sales to China is passenger aircraft and parts.

Meanwhile, Sen. Henry M. Jackson (D-Wash.), arriving in Peking for an 18-day visit, said he was "hopeful that our government will move without delay to grant most-favored-nation" trade status to China in accord with his amendment to the U.S. Trade Act.

The amendment requires assurances of free emigration and Jackson, on his third visit to China, said the requirement is being met. The United States and the Soviet Union have not reached agreement on that issue.