China to grant zero-tariff treatment for 16 LDCs

BEIJING – China will grant zero-tariff treatment on 98 percent of taxable items originating in 16 least-developed countries (LDCs), the Customs Tariff Commission of the State Council said on Monday.

Effective from Sept 1, the policy will help share market opportunities with those countries, push for common development, and promote the building of a community with a shared future for mankind, the commission said in a statement.

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The treatment will gradually expand to all the least-developed countries having diplomatic relations with China, it added.