Boosting imports seen balancing trade

China will ramp up efforts in import-boosting initiatives and advancing its strategy for helping balance import and export growth, a move poised to fuel high-quality development in the country while contributing to global economic stability, officials and experts said.

"Currently, uncertainties and instabilities in the global trade and economic landscapes have increased significantly, with industrial and supply chains undergoing profound transformation. This represents a common challenge faced by all nations, including China," said Ministry of Commerce spokesman He Yadong, at a news conference on Thursday.

"China will promote balanced import-export growth by effectively implementing initiatives like 'Export to China'," said He.

Earlier this week, Commerce Minister Wang Wentao said that the "Export to China" campaign aims to facilitate exports of quality goods and services to China, in particular from developing countries, when meeting with Rebeca Grynspan, secretary-general of the United Nations Conference on Trade and Development, in Beijing.

China hopes that UNCTAD will give its full support, so as to help Global South countries enhance trade capacities and share in the opportunities of China's huge market, Wang said, adding that China in October adopted the recommendations for the 15th Five-Year Plan (2026-30), which explicitly called for upholding the multilateral trading system and sent a strong signal of China's commitment to sharing opportunities and pursuing common development with others around the world.

China firmly supports multilateralism and the UN-centered international system, and stands ready to work with UNCTAD and other parties to foster and preserve a fair, just, open, inclusive and win-win international economic order, he said.

Grynspan said current high-tariff policies are undermining the stability and social progress of vulnerable economies worldwide.

Against such a backdrop, she spoke highly of China's implementation of zero-tariff treatment on 100 percent of tariff lines for the least-developed countries having diplomatic ties with China, including those in Africa.

It has been over one year since the zero-tariff policy for LDCs entered into force on Dec 1, 2024. Over the past year, imports from these countries have increased by a cumulative total of over 55 billion yuan ($7.8 billion), said the General Administration of Customs.

Grynspan expressed readiness to deepen practical cooperation with China in areas such as green minerals, trade in services and trade capacity building, jointly supporting developing countries in accelerating the implementation of the 2030 Agenda for Sustainable Development.

World Trade Organization Deputy Director-General Zhang Xiangchen told China Daily that China now contributes about 30 percent of global economic growth. Looking ahead, as China continues to advance technologically and deepen its cooperation with other economies, its share of global growth contribution may rise further.

In the latest step to further open up the world's second-largest economy despite rising protectionism worldwide, Hainan Free Trade Port will soon launch special Customs operations in the island province.

Starting on Dec 18, the special Customs operations will increase the proportion of zero-tariff products in Hainan FTP from 21 percent to 74 percent, while further opening-up local tourism, modern services and high tech.

Ministry spokesman He said that China will leverage the launch of island-wide independent Customs operations in Hainan as an opportunity to vigorously advance institutional opening-up.

Going forward, Hainan FTP will proactively align with international economic and trade rules, expand market access with a focus on services and refine the negative list management system for cross-border trade in services, He added.

The greater openness and the policy clarity — particularly regarding tariffs, market access and tax incentives — strengthen Hainan FTP's appeal as both an investment destination and a strategic gateway into the broader Chinese market, said Zhou Mi, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation.