(Posted 11th November 2022)
China has announced it will grant zero-tariff treatment to 98 percent of taxable items from 10 least-developed countries in a bid to promote an open global economy.
Starting from December 01st, China will waive all tariffs on 98 percent of the related imports from Afghanistan, Benin, Burkina Faso, Guinea-Bissau, Lesotho, Malawi, Sao Tome and Principe, Tanzania, Uganda and Zambia, according to the Customs Tariff Commission of the State Council.
The step is conducive to opening up with win-win outcomes, building an open global economy, and helping least-developed countries to accelerate their development, the commission said.
This policy measure will gradually expand to all the least-developed countries that have established diplomatic ties with China, it added.