China pledges deeper trade ties as Zimbabwe exports hit record high

China has pledged to deepen economic and trade cooperation with Zimbabwe, citing record bilateral trade volumes and new opportunities created by Beijing's recently introduced zero-tariff policy for African exports.

Speaking at the 2026 Zimbabwe National Chamber of Commerce (ZNCC) Annual Congress in Victoria Falls on Thursday, Chinese Ambassador Zhou Ding said economic relations between the two countries had reached unprecedented levels, with China remaining Zimbabwe's largest source of foreign direct investment.

Zhou said cumulative Chinese investment in Zimbabwe had reached approximately US$10 billion, covering strategic sectors including steel production, cement manufacturing, fertiliser production, mineral beneficiation, energy generation and digital infrastructure.

He said bilateral trade climbed to a record US$4.4 billion in 2025, representing a 15.2% increase from the previous year.

According to Zhou, Zimbabwe exported goods worth US$2.57 billion to China while importing products valued at US$1.83 billion, resulting in a trade surplus of approximately US$740 million.

"China and Zimbabwe share a long-standing all-weather friendship, and our economic and trade relations have served as a cornerstone of this great partnership," Zhou said.

The ambassador said Zimbabwe's export basket to China was becoming increasingly diversified, with agricultural products such as macadamia nuts, citrus fruits, avocados and blueberries joining traditional exports including tobacco and mineral commodities.

He highlighted China's decision to grant zero-tariff treatment to imports from 53 African countries, including Zimbabwe, with effect from May 1, 2026, describing the measure as a major opportunity for Zimbabwean producers to expand exports and improve their competitiveness in the Chinese market.

According to Zhou, the preferential trade arrangement would encourage value addition, promote export diversification and support Zimbabwe's ambition to move beyond exporting raw materials towards supplying higher-value manufactured and processed products.

He urged government and the private sector to strengthen trade facilitation, improve market access support mechanisms, increase investment in industrialisation and value addition, and accelerate negotiations on the proposed China-Zimbabwe Economic Partnership for Shared Development Agreement.

The ambassador also stressed the importance of continued infrastructure development to remove bottlenecks affecting industrial production and agricultural growth.

Zhou said Chinese-backed infrastructure projects had already contributed significantly to Zimbabwe's development, including the expansion of the Hwange and Kariba South power stations, the upgrading of Harare and Victoria Falls international airports, and improvements to telecommunications infrastructure.

He added that Chinese investors are currently developing captive power stations with a combined generation capacity exceeding 1,000 megawatts to support industrial production and ease electricity shortages.

The ambassador said China would continue encouraging its companies to invest in Zimbabwe while supporting efforts to improve policy consistency, financial stability and the broader investment climate.

"As Zimbabwe's strategic partner and all-weather friend, China is committed to standing firm with Zimbabwe and making continuous contributions," Zhou said.

His remarks come as Zimbabwe seeks to increase exports, attract foreign direct investment and accelerate industrialisation as part of its drive to achieve upper-middle-income status by 2030.