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China to impose zero tariffs on all items from 53 African countries: spokesman

China

China to impose zero tariffs on all items from 53 African countries: spokesman
China

China

China to impose zero tariffs on all items from 53 African countries: spokesman

2025-06-11 20:37 Last Updated At:23:47

China will grant zero tariffs on all tariff lines for the 53 African countries with which it has diplomatic relations, Foreign Ministry spokesman Lin Jian said on Wednesday.

The announcement came at the Ministerial Meeting of Coordinators on the Implementation of the Forum on China-Africa Cooperation (FOCAC) in Changsha of central China's Hunan Province.

"Today, the Ministerial Meeting of Coordinators on the Implementation of the Follow-up Actions of the Forum on China-Africa Cooperation was held in Changsha of Hunan. President Xi Jinping sent a congratulatory letter to the meeting, announcing that China will grant zero-tariff treatment for 100 percent of tariff lines to all least developed countries (LDCs) with which it has diplomatic relations, and will provide greater convenience for the export of the LDCs in Africa to China. China is willing to make further efforts in implementing the '10 partnership actions' with African partners, which provides important guidance for China and Africa to jointly promote modernization and build a new era all-weather China-African community with a shared future," Lin said.

Chinese Foreign Minister Wang Yi attended the meeting's opening ceremony, and proposed five initiatives on promoting high-quality development of China-Africa cooperation, including upholding solidarity among Global South nations, advocating free trade, and promoting cultural exchanges, the spokesman added.

"The two sides announced the China-Africa Changsha Declaration On Upholding Solidarity and Cooperation of the Global South, issued the List of the Outcomes of the Implementation of the Follow-up Actions of the Beijing Summit of the Forum on China-Africa Cooperation, published the Concept Paper of 2026 China-Africa Year of People-to-People Exchanges. The meeting showcases the implementation of the cooperation achievements of the Beijing Summit by China and Africa, and also injects new impetus into deepening political mutual trust, promoting mutually beneficial cooperation and enhancing people-to-people connectivity. The 4th China-Africa Economic and Trade Expo will also be held in Changsha starting from tomorrow," Lin said.

"In recent years, under the guidance of the China-Africa Cooperation Forum, the China-Africa relationship has achieved leapfrog development. China has established strategic partnership with all African countries having diplomatic ties with it. China remains Africa's largest trading partner for 16 consecutive years. Since the Beijing Summit last year, China's new investment in Africa has exceeded 13.3 billion yuan (1.85 billion U.S. dollars), and the total amount of financial support to Africa has exceeded 150 billion yuan. In the first five months of this year, China's imports and exports with Africa reached 963 billion yuan, increasing by 12.4 percent year-on-year and setting a new record for the same period in history," he said.

Lin stressed China's commitment to Africa as a "cornerstone" of its foreign policy, pledging to use its modernization drive to support African development and bolster Global South unity.

"China has always been taking solidarity and cooperation with African countries as an important cornerstone of China's foreign policies. We are willing to work with African countries to solidly promote the implementation of the outcomes of the Beijing Summit, carefully plan the future development of the Forum, use the 'golden key' of China-Africa solidarity and cooperation to open the 'door to the future' of common development, use Chinese-style modernization to help Africa's development and revitalization, and contribute China-Africa strength to achieving unity and self-reliance in the Global South and building a community with a shared future for mankind," Lin concluded.

China to impose zero tariffs on all items from 53 African countries: spokesman

China to impose zero tariffs on all items from 53 African countries: spokesman

China's stock market demonstrated robust performance in 2025 with new records in various sectors.

Against the backdrop of global liquidity easing and evolving industrial policies, the A-share market experienced a landmark year. Multiple key metrics - including total market capitalization, trading volume, as well as margin trading and short selling balances - achieved historic breakthroughs, demonstrating remarkable vitality and resilience.

In terms of overall performance, as of Dec. 31, 2025, the total market capitalization of A-shares reached approximately 118.91 trillion yuan, marking a net increase of 25.30 trillion yuan from the year's opening level of 93.61 trillion yuan. This represents a growth rate of 27.03 percent, according to data from financial information provider Wind.

In 2025, major A-share indices extended their annual gains compared to 2024.

On Dec. 31, 2025, the Shanghai Composite Index stood at 3,968.84 points, marking an annual increase of 18.41 percent - the largest annual gain since 2020. The Shenzhen Component Index rose 29.87 percent for the year, while the ChiNext Index surged 49.57 percent. The Beijing Stock Exchange 50 Index recorded an annual gain of 38.80 percent, while the STAR Market 50 Index rose 35.92 percent for the year.

As major indices rose, market trading activity intensified. Throughout 2025, the A-share market recorded a total trading value of approximately 420 trillion yuan, marking a growth of over 60 percent compared to the previous year and nearly doubling the 2023 annual value. It also marked the first time in history that the annual trading value surpassed the 400 trillion yuan threshold.

The margin trading and short selling scale in the A-share market expanded rapidly in 2025. As of the year end, the outstanding margin trading and short selling balance in the A-share market increased by 690.7 billion yuan during the year to reach 2.5 trillion yuan, setting a new historical high.

Notably, the growth in the balance was primarily driven by the increase in the financing balance. Although the short selling balance also increased in 2025, its cumulative growth for the year was less than 10 billion yuan, with the absolute value of the short selling balance remaining at a low level in recent years.

As market sentiment continued to heat up, major sectors in the A-share market saw increases. Key industry sectors rose to varying degrees, with over half posting annual increases exceeding 30 percent.

Boosted by sharp rises in precious metal prices, the nonferrous metals sector delivered standout performance throughout 2025. Defense and military, telecommunications, machinery and equipment, automotive, power equipment, and electronics sectors also ranked among the top annual gainers. Sectors like food and beverages, coal, and banking showed relatively weaker annual performance but still managed modest gains.

Against the backdrop of a broad market rally, individual stocks also rose, with many delivering standout performances. Data indicates that over 4,200 A-shares saw price increases in 2025, accounting for more than three-quarters of the total. Specifically, after excluding newly listed stocks, over 500 A-shares still doubled in value, with more than 100 stocks achieving annual gains exceeding 200 percent.

China's stock market demonstrates strong performance with multiple new records in 2025

China's stock market demonstrates strong performance with multiple new records in 2025

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