(Yicai Global) Jan. 26 -- China and New Zealand today signed a protocol upgrading their 12-year-old free trade agreement, which is expected to bring more benefits to the two countries' peoples.

Chinese Minister of Commerce Wang Wentao and New Zealand’s Minister for Trade and Export Growth Damien O'Connor signed the protocol via video link.

In 2008, China inked an FTA with New Zealand, the first between China and a developed country.

On the basis of the Regional Comprehensive Economic Partnership, China will further expand its opening-up to New Zealand in the aviation, education, finance, elder care and passenger transport sectors.

Editor: Ben Armour, Xiao Yi