Switzerland recognizes China's full market economy status

BEIJING, July 9 (Xinhua) -- Chinese Vice Premier Hui Liangyu expressed his appreciation Monday of Switzerland's recognition of China's full market economy status.

"I appreciate the Swiss government's recognition of our full market economy status, and I believe that decision will create a better environment and a broader space for bilateral economic and trade cooperation," Hui told visiting Swiss Federal Councilor Doris Leuthard.

Leuthard, who is also head of the Federal Department of Economic Affairs, held talks with her Chinese counterpart Bo Xilaion Sunday and, on behalf of the Swiss government, announced that Switzerland officially recognized China's full market economy status.

Hui said Switzerland is an important economic partner for China and that Swiss products are very famous in China.

He pointed out that China is the largest source of imports and the second largest export market for Switzerland, and he hoped firms from the two countries would strengthen cooperation in areas such as high-tech, resource utilization and environmental protection.

Leuthard said China is a very important market for Switzerland and that Switzerland is keen to cooperate with China in economic and other areas.

In Sunday's talks, Leuthard and Bo Xilai also agreed to study a China-Switzerland free trade agreement, and signed a memorandum of understanding on setting up a working group on intellectual property rights between the two countries.

Switzerland is the 75th country to recognize China as a full market economy.