china grants zero tariff preferences to all tax items of 43 least developed countries
2024-09-15
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on september 12, the tariff commission of the state council issued an announcement that in order to expand unilateral opening to the least developed countries and achieve common development, starting from december 1, 2024, a preferential tariff of zero will be applied to 100% of the tariff items of products originating from the least developed countries that have established diplomatic relations with china. among them, for tariff quota products, only the tariff rate within the quota will be reduced to zero, and the tariff rate outside the quota will remain unchanged.
it is understood that there are currently 43 least developed countries that have established diplomatic relations with china, of which the largest number is african countries, reaching 33.
hu tianlong, associate professor at the school of finance and economics of renmin university of china, told caixin that in order to support and help the least developed countries accelerate their development, my country has continued to implement preferential tariffs for the least developed countries that have established diplomatic relations with my country and completed the exchange of documents in recent years, and adjusted the countries to which the preferential tariffs apply in accordance with the united nations list of least developed countries and my country's transitional arrangements. in 2021, china further expanded the scope of products that receive zero tariff treatment for the least developed countries that have established diplomatic relations with china, granting zero tariffs to 98% of tariff items at the time, and this time it has been further expanded to 100%.
"just from the scale of the expansion of tax items this time, there is indeed not much tax revenue being ceded. it is more that our government is promoting the liberalization and facilitation of multilateral trade to build a new international economic system that is more open, diverse and inclusive. by deepening cooperation, promoting the free flow of goods, services, capital and technology, strengthening the resilience of the global supply chain and the efficiency of public product supply, we will achieve common prosperity and sustainable development of the international economy." said hu tianlong.
since the least developed countries are mainly from africa, this move is of great significance to enhancing china-africa economic and trade cooperation.
hu tianlong said that expanding preferential tariff treatment for the least developed countries' exports to china will expand my country's imports from africa, promote the building of a high-level china-africa community with a shared future, further share market opportunities with the least developed countries, and practice mutual benefit and win-win results.
"the chinese government has always fully recognized and understood the situation of the least developed countries and related historical reasons, and has actively promoted and strongly guaranteed the least developed countries to effectively participate in the world trading system, multilateral economic cooperation, and take further measures to improve trade opportunities and promote the optimization of the global value chain. at the same time, the chinese government fully cooperates with the special needs of the least developed countries in market access, and continues to grant preferential access in various ways and forms in market access." hu tianlong said.
in recent years, china has attached great importance to expanding imports from africa. in addition to granting zero tariff preferential policies, it has also established a "green channel" for african agricultural products to be exported to china and other related measures, and signed 22 agricultural products import access protocols with 14 african countries.
tang wenhong, assistant minister of the ministry of commerce, said at a press conference held by the state council information office recently that in recent years, imports of african agricultural products that have been granted access to china have grown rapidly. in 2023, china's imports of fresh pears from south africa increased by 1,733% year-on-year, and the amount of avocados imported from kenya increased by 624% year-on-year. the popularity of african specialty agricultural products in the chinese market, on the one hand, helps to meet the diverse needs of chinese consumers, and on the other hand, african agricultural practitioners have also gained tangible benefits from the chinese market.
in the first half of 2024, china imported us$60.1 billion from africa, a significant increase of 14% year-on-year. china attaches particular importance to promoting the export of high-quality specialty products from africa to china, and the amount of agricultural products imported from africa has achieved positive growth for seven consecutive years.
of course, the above-mentioned state council tariff committee has two major prerequisites for granting zero tariffs to products from the least developed countries. one is that the product originates from the least developed country, and the other is that tariff quota products are limited to zero tariff rates within the quota.
the general administration of customs previously issued the "measures of the customs of the people's republic of china on the origin management of import goods with special preferential tariff treatment for the least developed countries", which has clear provisions on the relevant management of origin.
in the announcement of the 2024 tariff adjustment plan released by the state council tariff commission at the end of last year, it was clarified that the tariff quota commodities are wheat, corn, rice, sugar, wool, wool tops, cotton, and fertilizers, and the tariff quota rate, most-favored-nation rate, and ordinary rate were also clarified. for example, the tariff quota rate, most-favored-nation rate, and ordinary rate for sugar are 15%, 50%, and 125%, respectively.
(reporter qian xiaoyan also contributed to this article)
(this article comes from china business network)
