China Power

China’s Free Trade Bonanza

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China Power

China’s Free Trade Bonanza

In the past two weeks, China has successfully concluded FTA negotiations with South Korea and Australia.

China’s Free Trade Bonanza
Credit: KOREA.NET photo by Cheong Wa Dae

It’s been a busy month so far for Chinese diplomats, with Beijing working hard to display its global leadership bona fides at three major meetings: the APEC summit in Beijing, ASEAN-related meetings (including the East Asia Summit) in Myanmar, and finally the G20 summit in Australia. A good portion of China’s agenda at these meetings was economic, and it paid off – Beijing has effectively concluded free trade agreements with both Australia and South Korea.

An FTA between Australia and China was a major priority for both governments, with the two sides setting a target of finalizing the deal in 2014. During Chinese President Xi Jinping’s time in Australia as part of the G20 summit, the two sides announced that they have effectively completed the negotiations.

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