Wang: will promote balanced development of foreign trade

Wang: will promote balanced development of foreign trade

China has emphasized its commitment to fostering balanced growth in foreign trade, with officials outlining measures to enhance import-boosting initiatives while stabilizing export momentum. Ministry of Commerce spokesman He Yadong highlighted the need to address global trade uncertainties and supply chain shifts, stating that China will advance policies such as the "Export to China" campaign to facilitate imports of quality goods and services, particularly from developing nations according to the report. This strategy aligns with broader efforts to uphold the multilateral trading system and share market opportunities, as outlined in the 15th Five-Year Plan (2026–30).

A key component of this approach includes zero-tariff treatment for 100% of tariff lines for least-developed countries (LDCs) with diplomatic ties to China, a policy that has boosted imports from these nations by over 55 billion yuan ($7.8 billion) since its implementation in December 2024. Commerce Minister Wang Wentao reiterated China's support for Global South countries to enhance trade capacities, while also announcing expanded zero-tariff access in the Hainan Free Trade Port, where the proportion of duty-free products will rise from 21% to 74% starting December 18, 2025.

The measures aim to strengthen institutional openness, refine market access for services, and align with international trade rules. Analysts note that these steps, combined with China's 30% contribution to global economic growth, could further solidify its role in promoting stable, inclusive development amid rising global protectionism.