China Has Extended To Africa More Than 4700 Zero Tariff Commodities To China.

China's State Council Information Office published a white paper on economic and trade cooperation between China and Africa on 23 October. It pointed out that as of July 2010, China had granted zero tariff treatment to some of the least developed countries in Africa to establish diplomatic relations with China, and the commodities benefited from zero tariff treatment had expanded to more than 4700 taxable items. In the future, it will gradually cover all commodities with 95% tax items.

The white paper points out that over the years, China has followed the principle of mutual benefit and promoted trade facilitation and promoted the comprehensive and balanced development of Sino African trade.

China has signed bilateral trade agreements with 45 African countries, strengthened cooperation in customs, taxation, inspection and quarantine, and created favorable conditions for the development of trade between China and Africa.

To support African countries' expansion of exports to China, since 2005, China has given zero tariff treatment to some of the least developed countries in Africa to establish diplomatic relations with China.

As of July 2010, the beneficiary commodities have been expanded to more than 4700 taxable items, and will gradually cover commodities of all tariff items 95% of the customs import and export tariff of People's Republic of China.

Driven by the zero tariff policy, China's exports of goods benefited from Africa have increased rapidly.

From the end of 2005 to the end of June 2010, China imported 1 billion 320 million US dollars of African commodities under zero tariff treatment, including agricultural products, leather, stone, textile and garment, machinery parts, base metals and wood products.

China has also helped African enterprises to open up the Chinese market by organizing the African commodity exhibition, setting up an exhibition centre for African products, and offering preferential treatment measures such as booth fee reduction and exemption.