According to the news from Ministry of Finance of People's Republic of China, China will grants zero tariffs to 4762 items from 33 least-developed countries on 1st, July, 2010. Since then, China will be one of the most open developing markets to least-developed countries.
It is said that as the improvement of the previous list of zero tariff items, this list contains some items that are actually exported from those least-developed countries or some that have potential to be exported. These 4762 items include fowls, domestic animals, seafood, raw primary products, medicinal materials, leathers, textiles and garments and so on. According to the statistics of 2008, all these 4762 items account 98.2% of all the items exported to China from least-developed countries.
In future, China will still expand items of zero tariffs based on responses and suggestions from related countries.
Officials from the Ministry of Finance think that the implementation of zero tariff policy will not only benefit people in least-developed countries but also reduce import costs of Chinese enterprises.
