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China-Africa trade shows strong momentum in first half of 2026: spokesman

China

China-Africa trade shows strong momentum in first half of 2026: spokesman
China

China

China-Africa trade shows strong momentum in first half of 2026: spokesman

2026-07-27 17:03 Last Updated At:21:07

The China-Africa trade has delivered robust results in the first half of 2026, thanks to the zero-tariff policy extended to 53 African countries maintaining diplomatic ties with China.

Chinese foreign ministry spokesman Lin Jian highlighted the outstanding performance at a regular press briefing in Beijing on Monday, saying that China unwaveringly promotes high-level opening-up through zero-tariff policies, which demonstrates its commitment to high-level opening-up and its responsibility as a major country, and has been widely welcomed by African nations and praised by the international community.

"China-Africa trade in the first half of this year can be defined by several highlights: First, total trade volume has grown at a faster pace. To date, China-Africa two-way trade totaled 1.41 trillion yuan (about 208 billion U.S. dollars), a record high for the first half of the year. The total trade is expected to reach a new high by the end of this year," said Lin.

"Second, trade structure has been improved. According to statistics, capital goods and intermediate goods account for 75 percent of China's exports to Africa, which are production inputs needed for Africa's industrialization and agricultural modernization, rather than for consumption only," Lin continued.

"Third, the potential of Africa's export to China keeps unlocking. In May and June following the implementation of zero-tariff treatment for all African countries having diplomatic ties with China, China's imports from Africa reached 193.8 billion yuan, up by 23.5 percent year on year. To date, African dried chilies, coffee beans, cashews and wild aquatic products have enjoyed unified regional market access," Lin said.

Lin also dismissed claims of a trade imbalance as a narrative trap concocted by certain actors with ulterior motives to undermine China-Africa cooperation.

"International trade is a two-way street. There's no forced trade. 'Trade imbalance' narratives are nothing but traps set by those with ulterior motives in an attempt to disrupt friendly cooperation between China and Africa. As the world grapples with the spillover of regional hotspot issues and a resurgence of unilateralism and protectionism, China remains firmly committed to expanding high-standard opening up through its zero-tariff policy, demonstrating its sense of responsibility as a major country. This has been widely welcomed by African countries and commended by the international community," said Lin.

"Going forward, we will further enhance trade facilitation between China and Africa and take concrete steps to open the Chinese market to more quality African products, injecting fresh impetus into building an all-weather China-Africa community with a shared future for the new era," Lin said.

China-Africa trade shows strong momentum in first half of 2026: spokesman

China-Africa trade shows strong momentum in first half of 2026: spokesman

International crude oil futures tumbled more than 5 percent on Tuesday after media reports suggested that the United States and Iran may soon reach an agreement concerning the Strait of Hormuz, easing fears of oil supply disruptions through the critical waterway.

The West Texas Intermediate for September delivery decreased by 4.57 U.S. dollars, or 5.69 percent, to settle at 75.77 dollars a barrel on the New York Mercantile Exchange.

Brent crude for October delivery dropped 4.41 dollars, or 5.26 percent, to settle at 79.36 dollars a barrel on the London ICE Futures Exchange.

Crude futures settle lower on hopes of U.S.-Iran deal over Strait of Hormuz

Crude futures settle lower on hopes of U.S.-Iran deal over Strait of Hormuz

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