Embracing opportunities in the Chinese market (journalist's note)

Starting from December 1, 2024, the least developed countries that have established diplomatic relations with China will be granted zero tariff treatment for 100% of their taxable products; In June of this year, it was announced that zero tariffs would be extended to 53 African countries with diplomatic relations. Over the past year, the continuously upgraded zero tariff policy has lowered the threshold for African products to enter the Chinese market, injecting strong momentum into China Africa trade cooperation and contributing positively to global economic development.

This is the responsibility of a major country to actively expand imports. As the second largest import market of goods in the world, China is opening wider and wider to share the development opportunities of Chinese path to modernization with more and more trading partners. Data shows that in the first three quarters of this year, imports from the least developed countries that have established diplomatic relations with China increased by 9.7% year-on-year. China has maintained its position as Africa's largest trading partner for 16 consecutive years, with imports from African countries increasing by 10.8% year-on-year in the third quarter of this year.

This is a true portrayal of mutual benefit and win-win situation. Nowadays, cotton from Sudan and natural rubber from Liberia have entered China for the first time. High quality African specialty products and raw materials have enriched the choices of Chinese consumers and opened up markets for small and medium-sized enterprises in African countries.

The zero tariff policy demonstrates the responsibility of a major country and is also a mutually beneficial link between China and Africa. China will expand high-level opening-up through practical actions, providing opportunities for the development of all countries and making greater contributions to the global economic development.