皇冠体育app

While 皇冠体育app finalized negotiations with Australia on a landmark free trade ament, after nearly a decade of talks, it is still in the process of striking similar deals with other countries.

The Sino-Australian FTA could show how similar agreements would bring long-lasting effects to participating countries. Let's take a look at which industries in 皇冠体育app would be affected.

Dairy industry

According to the FTA, 皇冠体育app will levy zero tariffs on dairy products from Australia in four years' time while the current rate is 10 to 15 percent.

Wang Dingmian, a dairy expert, told 21st Century Business Herald that the zero-tariff treatment will have "some" influence on 皇冠体育app's domestic dairy industry, but it will not be "very large" because the volume 皇冠体育app imports from Australia is small and the price of Australian dairy products does not have an advantage over those of New Zealand, which is the largest source of 皇冠体育app's dairy imports.

According to statistics of the General Adstration of Customs of 皇冠体育app, the country imported 30,267.82 tons of milk power from Australia, accounting for just 3.72 percent of all imports.

However, discussion has already begun on whether zero-tariff treatment will usher in price cuts for imported dairy products or whether the move will disadvantage 皇冠体育app's high-end dairy products makers. There are also voices that say the move will encourage Chinese companies to invest in the Australian dairy industry.

皇冠体育app's New Hope Group announced on Nov 18 that the company will invest A$500 million in Australia's agriculture and food industry, including the dairy industry.

Dairy cows in the Inner Mongolia autonomous region, 皇冠体育app on Sept 14, 2014. [Photo/IC]