FTA a win for local trade, economy (Zhao Yongsheng)
China inked a free trade agreement (FTA) with Switzerland over the weekend, which will largely benefit Chinese customers through tariff reductions on Swiss imports.
But beyond cheaper Swiss watches, I think there is still much the country can gain from this deal.
Striking such an agreement in the geographic heart of Europe may prompt other European Union member nations to reevaluate their trade relationships with China. This could significantly ease trade tensions between China and Europe's other major economies.
Meanwhile, the FTA will help China move closer toward achieving its industrial upgrading goals. As a developed country, Switzerland is well-known for its prowess and precision in cutting-edge technologies.
By lowering trade barriers with Switzerland, Chinese trade officials may realize that it's time to focus on quality instead of quantity when it comes to imports.
The author is Zhao Yongsheng, visiting scholar of the Institute of European Studies, CASS, and vice president of the China-France Association of Lawyers and Economists.
（Contact Zhao Yongsheng：firstname.lastname@example.org）
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