On a visit to Beijing on Wednesday, Interior Minister Alain Berset said about 600 Swiss companies in China were affected by the accord.
The deal exempts companies and employees from paying social security contributions, both to Switzerland and China, for up to six years.
Berset, whose portfolio includes social security issues and culture, added that the accord, which was also signed by his counterpart, Yin Weimin, would also help clarify the situation for Chinese employees in Switzerland.
Negotiations on the agreement began shortly after a landmark trade deal between the two countries in July 2013.
Both countries also agreed to open negotiations aimed at boosting cultural exchange programmes.
Berset stressed the importance of culture for the economy and encouraged artists to participate in such exchanges.
During his three-day trip to Asia, Berset visited development projects in the northwestern province of Ningxia.
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