China - Swiss economic relations reach milestones in recent bilateral relations
311 views · Published 16 January 2017 · 1:18 · Indexed 3 October 2026
Channel: CGTN Africa · 2017 · News & Politics
Switzerland was one of the first western countries to establish diplomatic ties with China, and that was in 1950. In April last year, the two countries agreed to implement an innovative strategic partnership to promote development and trade ties, making Switzerland the first country to establish such an agreement with China. Switzerland was also the first European country to acknowledge China's market economy status in 2007, and just 6 years later, signed Europe's first free trade agreement with China, which took effect in 2014. After China's proposal to launch the Asian Infrastructure Investment Bank, Switzerland applied to join the initiative, becoming one of the bank's founding members in 2015. The two nations also signed a bilateral currency swap agreement in 2014, and a yuan clearing bank was set up in Zurich last year.
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