China, Switzerland sign free trade pact

China and Switzerland signed a free-trade agreement Saturday after more than two years of negotiations, marking China's first such pact with a continental European nation, dpa reported. Chinese Commerce Minister Gao Hucheng and Swiss Economics Minister Johann Schneider-Ammann signed the pact in Beijing, state media said. It follows a free-trade agreement signed with Iceland in April, with China reportedly close to signing a similar pact with Norway. Swiss-Chinese trade amounted to 26.3 billion dollars last year, according to Swiss figures. Switzerland exports watches, medicine, chemicals and machines, while receiving mainly textiles and machinery from China.