Swiss watch manufacturer Hublot designed a new luxury watch to celebrate the Free Trade Agreement between the People’s Republic of China and the Swiss Confederation.

Named “Classic Fusion Sino-Swiss FTA Limited-Edition”, this limited edition watch includes both flags, the swiss and the chinese, engraved in the caseback with the following text: ““Sino-Swiss FTA takes effect” and “July 1st, 2014”.

Hublot’s commemorative watch has yet a black rubber strap with black alligator and red stitching, which represents the Chinese national color.

According to a new study by Mintel, Chinese consumers look to a brand’s craftsmanship more than other factors when determining its luxury status. For Chinese consumers dwelling in cities, craftsmanship comes before the words “expensive” or “status,” the respondent’s second and third most popular choices. So, this agreement will likely place the brand at the front of the Swiss watch market in China.