China will grant zero-tariff treatment on 98 percent of taxable items originating in 16 least-developed countries, according to a statement released by the Customs Tariff Commission of the State Council on Monday.

Effective on September 1, the policy will help share market opportunities with those countries, push for common development, and promote the building of a community with a shared future for mankind, the statement said.

The treatment will gradually expand to all the least-developed countries having diplomatic relations with China, the statement said. 

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