Yiwu in Jinhua, Zhejiang province, saw its trade with Africa soar to 41 billion yuan ($6.03 billion) in the first quarter, marking a 47.3 percent year-on-year increase. This aligns with China's new policy, effective May 1, offering zero tariffs to 53 African countries, demonstrating strategic market anticipation.
Near the Yiwu International Trade Market, the China-Africa Building hosts 63 foreign entities, of which 80 percent are African merchants.
The beneficial policy has energized entrepreneurs like Simpara Aboubacar Sidiki from Mali, who has been living in Yiwu since 2014. His team is exploring partnerships in Kenya and Ethiopia and piloting tax-free imports of Ethiopian coffee beans and Rwandan chili peppers. They also aim to collaborate with local e-commerce platforms to establish "African Zero-Tariff" special areas.
Sidiki said he dreams of seamless China-Africa trade. Previously, tariffs were a major hurdle for African goods entering China, but the new policy has eased that barrier. Improvements in logistics, standards, and branding are still needed to make African products more affordable for Chinese consumers.
At the China-Africa Building, Mu Dile, project manager of the investment sector at Zhejiang Africa Holdings Group, said they plan to organize policy analysis sessions.
Drawing on his extensive experience in China-Africa trade, he emphasized that zero tariffs will enhance trade and development. For Yiwu, importing competitive African products will help diversify supply chains; for Africa, upgrading exports will boost local employment and income.
