China's 15th Five-Year Plan to Deepen Belt and Road Cooperation, Extend Zero-Tariff to Africa
On.cc · 2 SOURCES1 day ago5 MIN
Summary
China's Ministry of Commerce outlined its economic strategy for the 15th Five-Year Plan period on Wednesday (November 11), announcing expanded cooperation with Belt and Road partner nations in green trade, cross-border e-commerce, and digital trade. The government will implement comprehensive zero-tariff treatment for all African countries maintaining diplomatic relations with China, while continuing existing trade preferences for the world's least developed nations. Song Lihong (宋立洪), Level 1 Inspector of the Commerce Ministry's Comprehensive Department, revealed these plans during a press conference hosted by the National Development and Reform Commission, emphasizing China's commitment to expanding its global free trade network and attracting more investment from partner countries .
Key Points
- China currently maintains 19 free trade agreements with 25 countries and will prioritize signing economic partnership agreements with African diplomatic partners
- The government will accelerate the China-ASEAN Free Trade Area 3.0 upgrade, finalize the China-Georgia FTA upgrade protocol, and expand RCEP cooperation
- Zero-tariff policies will be extended to all least developed countries and comprehensively implemented for African diplomatic partners
- Bilateral investment cooperation will focus on green energy, green minerals, digital economy, and artificial intelligence sectors
- Service trade development will include the 'Thousand Sails Going Abroad' cultural trade initiative and expanded digital trade operations
Why It Matters
The 15th Five-Year Plan trade strategy signals China's sustained commitment to multilateral economic engagement despite global trade uncertainties. For Hong Kong businesses, the expansion of cross-border e-commerce and green trade cooperation creates new opportunities in logistics, financing, and professional services connecting Mainland suppliers with Belt and Road markets .
The 15th Five-Year Plan trade strategy signals China's sustained commitment to multilateral economic engagement despite global trade uncertainties. For Hong Kong businesses, the expansion of cross-border e-commerce and green trade cooperation creates new opportunities in logistics, financing, and professional services connecting Mainland suppliers with Belt and Road markets .