China’s Zero Duty Extended to LDCs in Africa to Augment Trade: Study

(3 Minutes Read)

In the last three months, trade between China and these countries, including 33 in Africa, has experienced notable growth, opening up new avenues for economic development and partnership.

Reports suggest that China’s initiative to offer zero-tariff treatment to least developed countries (LDCs) with which it has diplomatic relations has greatly advanced trade liberalization. On March 10, it marked 100 days since the implementation of this zero-tariff policy for all products from LDCs that maintain diplomatic ties with China.

In the last three months, trade between China and these countries, including 33 in Africa, has experienced notable growth, opening up new avenues for economic development and partnership.

Recently, a shipment of natural rubber from Laos successfully passed customs in Qingdao City, Shandong Province, and entered a local tire manufacturing line, benefiting from the tariff exemption. The implementation of preferential tariff rates for LDCs not only lowers tariff expenses for Chinese importers but also boosts the competitiveness of exports from these countries, significantly enhancing bilateral trade.

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To ensure that businesses fully benefit from this policy, Chinese customs authorities utilize big data analysis to align import declarations with the zero tariff list, offering tailored guidance.