Overview
Of the Several Policies and Measures
For the High-quality Development of the Pilot Zone
For In-depth China-Africa Trade and Economic Cooperation (Trial)
Policy Background
On January 7, 2024, the State Council officially approved the Overall Plan for the Development of the Pilot Zone for In-depth China-Africa Trade and Economic Cooperation submitted by People’s Government of Hunan Province and the Ministry of Commerce.
On February 18, 2024, the General Office of the People’s Government of Hunan Province issued the Implementation Plan for the Development of the Pilot Zone for In-depth China-Africa Trade and Economic Cooperation.
On May 22, 2024, the Ministry of Commerce, CPC Hunan Provincial Committee, People’s Government of Hunan Province and relevant state ministries and commissions held the First Consultation Meeting on the Development of the Pilot Zone for In-depth China-Africa Trade and Economic Cooperation in Changsha, calling for efforts to build the pilot zone into a testing ground and a model area for China-Africa trade and economic cooperation.
From September 4 to 6, 2024, the Summit of the Forum on China-Africa Cooperation was held in Beijing. General Secretary Xi Jinping announced the implementation of the ten partnership actions for modernization in the next three years. Among the actions, the partnership action for industrial chain cooperation proposes to focus on building a pilot zone for in-depth economic and trade cooperation between China and Africa.
Main Measures
Supporting the development of a service system to facilitate trade with Africa
(1) Supporting the development and operation of laboratories for the inspection and testing of products exported to China
Grant each laboratory a one-time subsidy of no more than 30% of the actual investment amount (with a total amount of no more than RMB1.5 million) and an operation subsidy of RMB300,000/year for two consecutive years.
(2) Supporting the development and operation of public overseas warehouses in Africa
Grant a one-time subsidy of no more than 30% of the actual investment amount (up to RMB5 million to each enterprise in each African country) to self-invested and constructed overseas warehouses (including commissioned construction); grant a one-time subsidy of no more than 50% of the site rental cost (up to RMB1 million to each enterprise in each African country) to leased overseas warehouses; and grant a two-year operation subsidy (no more than RMB500,000 in the first year and no more than RMB300,000 in the second year).
Supporting the high-quality development of trade with and investment in Africa
(3) Expanding imports from Africa
Comprehensively evaluate agricultural and mineral product import enterprises and provide graded rewards
Up to RMB10 million
(4) Deepening cooperation with Africa in building industrial capacity
Focus on developing projects integrating industries, sectors and trade (industries and trade) in agriculture, mining, and manufacturing, “SKD/CKD export + overseas general assembly” projects, logistics supply chains and other projects.
(5) Supporting enterprises to participate in exhibitions in Africa
Grant booth, exhibit transportation and personnel subsidies in line with relevant subsidy standards of Hunan Province for key overseas exhibitions.
(6) Introducing market players to Africa
Encourage leading enterprises in agriculture, energy and mining, manufacturing, digital economy, medicine, logistics, infrastructure and other industries to set up headquarters for business in Africa and provide incentives for headquarters projects with great contributions.
(7) Promoting new barter trade with Africa
Encourage enterprises to pilot new barter trade
Comprehensively evaluate pilot enterprises and offer graded rewards
Up to RMB2 million
Improving the quality of financial services
(8) Establishing the China-Africa in-depth economic and trade cooperation service fund
Help advantageous industries in Hunan Province to go global and develop China-African cross-border industrial chains.
(9) Increasing support for financing credit insurance
Encourage financial institutions to provide convenient settlement services for high-integrity and compliant enterprises that carry out economic and trade cooperation with Africa. Grant a subsidy of no more than 50% of the premium (no more than RMB2 million per enterprise per year) to enterprises that purchase relevant African business insurance products.
Promoting China-Africa economic and trade exchanges
(10) Enhancing the influence of the China-Africa Economic and Trade Expo
Supporting the China-Africa Economic and Trade Expo, relevant promotion activities in Africa and China, and the high-standard development of permanent exhibition halls.
(11) Supporting the development of the China-Africa economic and trade service system and the long-term mechanism for economic and trade exchanges and cooperation with Africa
Enterprises shall not receive both the provincial and municipal policy support for a single project. If an enterprise has multiple projects qualified for the supporting policies, it can receive policy support separately for each project. The total subsidy amount for an enterprise shall not exceed RMB20 million per year.
This document shall take effect from February 14, 2025,
with a validity period of two years
Presented by: Hunan Commerce
Produced by: www.voc.com.cn
Copywriting by: Yang Ye, Huang Mei Designed by: He Canling
（Translated by Professor Yu Jie)