Michael Onjewu
In October this year, the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China was convened in Beijing.
The session reviewed and adopted the Recommendations of the Central Committee of the Communist Party of China for Formulating the 15th Five-Year Plan for National Economic and Social Development, outlining a grand blueprint for China’s development over the next five years, pointing the way forward for Chinese modernization.
The session also laid out plans for improving the institutions and mechanisms for high-standard opening-up, explicitly putting forward “steadily expanding institutional opening-up”. Unlike the opening-up centered on the flow of goods and factors, institutional opening-up, as a hallmark of high-standard openness, focus more on rules, regulations, management, and standards. It is more comprehensive, systematic, and stable, representing a more advanced form of opening-up.
In recent years, the transformation of the global trading system has been accelerating.
On one hand, trade in developed economies has weakened, while the Global South has become the main driver of global trade growth. On the other hand, the WTO-centered multilateral trading system has faced increasing challenges, and mega-free trade agreements promoted by developed economies have gained an advantage in reshaping global rules.
These trends indicate that the global economic governance system is struggling to keep pace with an evolving landscape.
In this context, steadily advancing institutional opening-up will enhance China’s participation in the reform of global economic governance. By firmly supporting the WTO-centered multilateral trading system and steadily expanding institutional openness in rules, regulations, management, and standards, China will strengthen its leadership and agenda-setting influence in shaping international economic and trade rules.
Meanwhile, China will also participate more comprehensively in WTO reform and the adjustment of global economic and trade rules, contributing more public goods to the world.
Since December 1, 2024, China has granted zero-tariff treatment to 100% of products from all least developed countries (LDCs) with which it has diplomatic relations, covering 33 African nations. In June this year, China further extended this zero-tariff policy to include all 53 African countries that have established diplomatic ties with it.
These measures reflect the consistent implementation of the principle of “mutual benefit and win-win cooperation” in guiding China-Africa relations and highlight China’s firm determination to adapt to the evolving international landscape and strengthen multilateral economic and trade relations.
Moreover, China’s zero-tariff policy toward African countries will help reshape the trade landscape between China and Africa, elevating Africa’s position in international trade and global supply chains. It will also support African nations in achieving industrial chain upgrading, moving beyond a “resource-export” economic model, and accelerating their industrialization and modernization, further illustrating the great significance of strengthening cooperation among Global South countries.
China and Nigeria share a long-standing and profound friendship. In recent years, bilateral relations between our two countries have grown rapidly. Last September, during the meeting between President Xi Jinping and President Bola Tinubu in Beijing, the two heads of state elevated the China-Nigeria relationship to a Comprehensive Strategic Partnership. China supports Nigeria in playing a greater role in international and regional affairs and stands ready to strengthen coordination with Nigeria through multilateral mechanisms.
Together, the two sides will advance solidarity and self-reliant development of the Global South, advance world multi-polarization and economic globalization, and contribute to a more just and equitable global governance system.
China is also willing to advance high-quality cooperation under the Belt and Road Initiativeand work together with Nigeria to align the “Ten Partnership Actions” of the Forum on China-Africa Cooperation (FOCAC) with President Tinubu’s “Renewed Hope” Agenda and his administration’s
“Eight Priority Areas.” To further this goal, China also stands ready to implement the zero-tariff policy through the negotiation and signing of the Agreement on Economic Partnership for Shared Development.Furthermore, China is willing to walk hand in hand with Nigeria on the path to modernization, strengthen strategic synergy, expand all-round cooperation, deliver more tangible outcomes, and serve the development needs of both countries.
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