China-Australia Free Trade Agreement

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China's Commerce Minister Gao Hucheng (L) and Australia's Trade Minister Andrew Robb (R) pose for photos with Australian Prime Minister Tony Abbott after signing the China-Australia Free Trade Agreement at the National Gallery in Canberra June 17, 2015. [Xinhua]

The China-Australia Free Trade Agreement (FTA) officially went into effect on December 20, 2015. Once the agreement is fully implemented, 96 percent of Australian goods will enter China duty free, while 100 percent of Chinese exports to Australia will enjoy zero-tariff treatment.

Negotiations started in 2005 and were greatly accelerated after Chinese President Xi paid a state visit to Australia in November 2014. The agreement was signed on June 17, 2015.

China is Australia's top trading partner, with the two-way flow of goods and services exceeding US$135 billion in 2014.

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