Investment/Trends

China, Switzerland sign free trade agreement

"China and Switzerland on Saturday signed a free trade agreement (FTA) - Beijing's first in continental Europe - in a deal that comes against a backdrop of trade tensions between the Asian giant and the European Union (EU). Chinese Commerce Minister Gao Hucheng and Swiss Economy Minister Johann Schneider-Ammann inked the accord in a ceremony at the Commerce Ministry in Beijing before officials and reporters. Afterwards, they clinked glasses of champagne in celebration of the agreement, which aims to increase the $26.3 billion in bilateral trade they recorded in 2012." Continue reading →

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Switzerland Will Join Race to Be Trading Hub for China’s Yuan

"Switzerland plans to bid to become an offshore yuan trading center in Europe, competing with Frankfurt and London to corner trade in the Chinese currency. 'It is in Swiss interest to have a renminbi hub in the center of Europe,' Economy Minister Johann Schneider-Ammann said in Beijing yesterday after signing a free trade agreement with Chinese Commerce Minister Gao Hucheng. While no official talks have taken place, Schneider-Ammann said he hopes the idea will become 'more serious' in the coming weeks or months." Continue reading →

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