China's Minister of Commerce Gao Hucheng and Australia trade and investment Minister, andelu·Luobu June 17 in Australia Canberra, Desktops wholesaler on behalf of the two Governments formally signed the People's Republic of China Government and Australia free trade agreement the Government. Australia's Prime Minister Abbott attended the signing ceremony.

Sino-Australian free trade agreement negotiations, launched in April 2005, lasted for ten years. Through the joint efforts of both sides, XI Jinping November 2014 to Australia during his State visit, with Australia Prime Minister Abbott shared confirmed and announced the end of substantive negotiations. The formal signing of the agreement, for both their domestic ratification procedures, to make the agreement laid the Foundation for entry into force as soon as possible.

Sino-Australian free trade agreement covering goods, services, investments and more than 10 fields, to achieve a "comprehensive, quality and balance of interests" goal, China and other countries have so far signed the trade and investment liberalization as a whole one of the highest levels of free trade agreements.

In the area of goods, both sides each have total export trade volume 85. 4% products will achieve zero tariffs immediately when the agreement enters into force. Tax cuts after the transition period, Australia finally realize zero tariff items and trade volume will reach 100% per cent; China's zero-tariff items and trade volume reached 96 per cent. 8% and 97%. This significantly more than the General 90% of the FTA tariff levels.

In the area of services, the Australian side's commitment to the agreement is in force for liberalization of the service sector as a negative list of the Chinese side, becomes world's first to China made commitments on trade in services as a negative list of countries. China is open to the Australian side the service sector as a positive list. In addition, Australia holiday on working mechanism of special agreements on the Chinese side.

In the area of investment, both sides will grant each other most favored nation status when the agreement enters into force; the Australian side at the same time for Chinese companies to invest in Australia reducing the threshold for review, and facilitation arrangements.

In addition, the agreement also includes e-commerce, government procurement, intellectual property, competition and other "21st century economic and trade issues", including more than 10 fields, provides for advance bilateral exchanges and cooperation.

Australia is the larger economy of the major developed economies, is the world's major exporter of agricultural and mineral products, and has a mature market economy and legal systems and governance models to match with. Sino-Australian free trade agreement is signed, is our high standards in speed up the formation of a global free trade area network an important and solid step forward in the process of China's "new normal" following deepening reform, building an open economy will play an important role in the promotion of the new system. Sino-Australian free trade agreement but also following Korea zhihou, economies in China and the Asia-Pacific region and an important signing of free trade agreements. To promote the regional comprehensive economic partnership (RCEP) and Asia-Pacific free trade zone (FTAAP) process and accelerate the process of economic integration in the Asia-Pacific region, regional development and prosperity is of great significance.

Signing of the Sino-Australian free trade agreement is an important milestone in the development of Sino-Australian economic and trade cooperation. Australia and China are each other's important trade and investment partners, bilateral economic and trade relations have developed rapidly, and continue to expand the scale of trade and investment. In 2014, $ 136.9 billion in bilateral trade, 16 times times that of 2000. By the end of 2014, Australian investment in China totalling approximately $ 74.9 billion. Currently, Australia is behind Hong Kong's second-largest destination for overseas investment in China Tablet PC Directory. China is Australia's biggest trade partner and largest source of imports and its largest export destination. Sino-Australian free trade agreement comes into effect, will further promote bilateral flow of capital, resources, and personnel exchanges, bilateral economic advantages to the sustained and in-depth development, benefiting both industry and the consumer a wide range for the benefit of the two peoples.