China’s imports from Africa surge after Beijing expands zero-tariff policy
China’s growing hunger for critical minerals partly drove the increase, but the tariff reduction is also fuelling trade in several new sectors
Africa’s exports to China have surged since Beijing expanded its zero-tariff policy across the continent in May, as customs data showed signs of emerging trade links in a range of new sectors alongside traditional categories such as critical minerals.
China’s imports from Africa soared by 21.1 per cent and 40.2 per cent year on year in May and June, respectively – outpacing the overall growth in Chinese imports over the same period, customs data showed.
The increase was partly driven by China’s growing hunger for critical minerals, as the world’s second-largest economy invests heavily in clean energy, semiconductors and data centres to power its fast-growing artificial intelligence industry.