China-Africa trade benefits China's preferential tariff on stone

Since January 1, 2005, China has begun to implement preferential zero tariffs on some of the 25 African LDCs. The 190 kinds of goods benefited from 10 categories including food, unprocessed agricultural products, stone materials and mineral products. The previous average tariff rate was 9.8%. In 2004, China’s imports of these goods from 25 African countries totaled US$208 million and tariffs of US$9.18 million. After the implementation of zero tariffs, China has reduced the tariffs of nearly 10 million yuan.

Undoubtedly, these 25 African countries are the biggest beneficiaries. Li Xiaobing, Director of the Coordination Division of the West Asia and Africa Division of the Ministry of Commerce, pointed out: "After the implementation of the zero tariff policy, according to the duty-free access provided by China, African countries have reduced the trade cost of exporting products to China; by expanding trade opportunities, beneficiary countries can increase exports accordingly. Income, which in turn increases the export capacity of African countries' goods. ""Zero tariffs not only bring benefits to African countries, but also can be said to be a win-win situation for both China and Africa," said Qi Jianwei, assistant inspector of the Department of Western Africa and Africa. At present, China's exports to Africa are mainly electromechanical products and daily necessities, mainly imported from crude oil, logs, iron ore, diamonds and other products. The African continent is rich in resources and has a large number of primary products for the Chinese market, such as coffee, diamonds and mineral products. If China can increase imports through the opportunity brought about by zero tariffs, it will help increase domestic consumption, solve the shortage of raw materials in related industries, and meet the growing demand for resources in China's social and economic development.

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