On July 12-14 2017, the 2nd round of upgrading the negotiation of China-Chile free trade agreement was held in Beijing. Both sides conducted negotiations on issues such as trade in goods, service trade, economic and technical cooperation, rule of origin, customs procedure, trade facilitation, competition policy, environment, e-commerce and government procurement with positive progress.

China-Chile FTA was signed in November 2005 and has been implemented since October 2006. It is the second FTA signed between China and the other countries as well as the first FTA signed between China and Latin American country. The agreement has achieved favorable effects since its implementation. At present, China has become the largest trade partner of Chile and Chile has become China's third largest trade partner in Latin America. In order to further improve the level of liberalization, when President Xi Jinping paid a state visit to Chile in November 2016, both sides signed the MOU of Starting China-Chile Free Trade Agreement Upgrading Negotiation between the Ministry of Commerce of the People's Republic of China and the Ministry of Foreign Affairs of the Republic of Chile, announcing to launch the upgrading of negotiation.