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China announces zero-tariff treatment for 98% of tariff lines for 16 LDCs

China announces zero-tariff treatment for 98% of tariff lines for 16 LDCs

China announces zero-tariff treatment for 98% of tariff lines for 16 LDCs

China will offer zero-tariff treatment on 98 percent of taxable products from 16 least-developed countries, according to a statement released by the Customs Tariff Commission of the State Council on Monday.

Coming into force on September 1, 2022 the move will facilitate to share market opportunities with these countries, push for common growth and advocate the building of a community with a shared future for mankind, said the statement.

The statement said that this policy measure will gradually expand to all the least-developed countries having diplomatic ties with China.

Prior to this move, the commission announced in December last year that China will grant the preferential tariff treatments to the least-developed countries that have established diplomatic relations and completed the exchange of letters with China.

Source: http://en.qstheory.cn/