China cuts tariffs to boost economic openness
This year, China has adopted a series of measures to support high‑level openness, said Cheng Zhijun, Director‑General of the Department of International Economic and Financial Cooperation at the Ministry of Finance.
In an era of global uncertainty and trade barriers, China chooses the path of liberalisation, opening its markets and lowering tariffs. This is not just economic policy — it is a strategic signal to partners worldwide: the country is ready to cooperate despite external challenges. Every step to reduce tariffs strengthens China's position as a responsible participant in the global trading system, creating conditions for mutually beneficial exchange and stable development.
Since 1 January this year, China has applied import tariff rates lower than the most‑favoured‑nation rates to 935 products, significantly enhancing the synergy between domestic and international markets and resources, Cheng noted. In February, China introduced a zero‑tariff policy on certain goods imported by residents of the Hainan Free Trade Port, further increasing the sense of benefit among island residents. At the same time, the Ministry of Finance introduced a range of preferential import tariffs to support scientific and technological innovation, as well as the development and utilisation of energy and resource resources, the official added.
Starting from 1 May, on the basis of applying zero tariffs to all least developed countries that have diplomatic relations with China, China introduced a two‑year zero‑tariff measure for 20 African countries with diplomatic relations with China, giving a strong boost to China‑Africa cooperation, Cheng said.
"During the 15th Five‑Year Plan period (2026–2030), the financial authorities will accelerate the establishment of a scientific and effective modern tariff system to support the development of a higher‑level open economy. Efforts will be made to expand the import of high‑quality goods from around the world, develop diverse leaders of openness and deepen international economic and trade cooperation," the official said.
The tariff reduction policy is part of China's long‑term strategy to transform its economy from an export‑oriented model to a more balanced structure, where domestic consumption and imports play an increasingly important role. The creation of the Hainan Free Trade Port, the expansion of preferences for least developed countries and special measures for African states are aimed at diversifying trade ties and strengthening mutual trust. These steps also contribute to the goals of the 15th Five‑Year Plan, which emphasises high‑quality development and technological sovereignty.
As CCTV+ reports, the consistent reduction of import tariffs and the expansion of tariff preferences confirm China's commitment to openness and integration into the global economy. These measures create new opportunities for international business, strengthen China's position as a global trade partner and lay the foundation for sustainable growth in the years ahead.
