According to CoinMeta, Huang Ling, a spokesperson for the Ministry of Commerce, stated that on October 30th, China and Switzerland signed an upgraded free trade agreement protocol, which is a concrete measure to implement the important consensus reached by the leaders of both countries. Both sides will carry out their respective domestic procedures to promote the early entry into force and implementation of the protocol. Once the protocol comes into effect, higher levels of market access will be achieved in areas such as goods, services, and investment. Ultimately, products subject to zero tariffs will cover more than 99% of the bilateral trade volume. Swiss products such as coffee, machine tools, watches, and medical equipment will have broader market prospects in China, while Chinese products like sunflower seeds will also enter the Swiss market with more favorable tariff treatments.