China to ease tariff duties for 10 least-developed countries
China to ease tariff duties for 10 least-developed countries
Starting from December 1, 2022, China will extend zero-tariff treatment to 10 least-developed countries. The country has taken this step, as a win-win outcome, in its endeavour to promote an open global economy while also helping the least-developed nations to accelerate their growth, as per the customs tariff commission of the state council.
The zero-tariff treatment will be applicable to 98 per cent of taxable import items from the 10 least-developed countries, including Guinea-Bissau, Lesotho, Malawi, Afghanistan, Benin, Burkina Faso, Sao Tome and Principe, Tanzania, Uganda, and Zambia.
The country also plans to eventually expand this policy measure to all the least-developed countries who have ties with China, according to Chinese media reports.
