Pacts that will transform China Inc

With FTAs with South Korea and Australia taking effect, Chinese firms seek to switch gears to compete globally

China's free trade agreements with South Korea and Australia, which took effect last month, are expected to encourage struggling domestic manufacturers to further upgrade their technology, to return to previous levels of export growth.

It is early days still, but the FTAs will likely have profound economic implications for Chinese companies. The FTAs come at a critical time when many economies are taking decisive measures to compete with China. Countries are keen to enlarge their export volume through new technologies, modernization of their services sector, investments in Southeast Asia and effective marketing strategies.