China will offer zero-tariff treatment for 100 percent of tariff lines to all least-developed countries (LDCs) with which it has diplomatic relations, starting from December 1, 2024, according to a statement from the Customs Tariff Commission of the State Council. It is expected that more high-quality African products will enter the Hunan market in the future.

A total of 43 LDCs will benefit from tariff-free treatment, including 33 in Africa, 8 in Asia, and 2 in Oceania. The statement includes countries such as Angola, Benin, Central Africa, Chad, Comoros, Ethiopia, Madagascar, Tanzania, Uganda, Zambia, and others. A spokesperson of the Changsha Customs Authority noted that sustained efforts will be made to support the policy, facilitating greater access for Hunan enterprises to better enjoy preferential tax policies and promoting more high-quality African products in the Hunan market.

According to data from the Changsha Customs Authority, in recent years, Hunan has experienced a surge in imports of African goods, benefiting from the special preferential tariff treatment for LDCs. From January to October this year, the Changsha Customs Authority accepted 1,157 preferential customs declarations for imports from LDCs, an increase of 62.96%, and the tariff reduction reached 25.4575 million CNY, an increase of 89.15%. Among these were 653 preferential customs declarations for imports from African countries, an increase of 127%, and a tax concession amounting to 16.7756 million CNY, an increase of 162%. The main products under the special preferential tariff treatment are sesame seeds from Tanzania, Burkina Faso and Togo, and mica flakes from Madagascar.

This article is from the Hunan Provincial Government www.enghunan.gov.cn.

Translator: Xiao Juan

Chinese source: hunan.gov.cn