The power of the governing coalition and the opposition party reached a balance at the national and capital city levels，which led to a relatively stable political situation in Iceland. Its economic recovery is on a steady pace and among the countries hit by the financial crisis，Iceland will hopefully become the first one whose economy is expected to be restored to the level before the financial crisis. In the external affairs field，Iceland stopped the accession application process to the EU in February 2014. China-Iceland relationship reached a milestone with the bilateral FTA coming into force on July 1 2014. <<