With New Zealand set to sign a deal in Beijing in April, there has been much speculation about how Mr Peters will treat the deal in his dual roles as party leader and foreign affairs minister.
In a speech to a Grey Power audience in Taranaki today, Mr Peters said his party's scepticism about such deals remained.
‘‘Our policy position has not changed - we do not favour free trade agreements with low-wage economies,'' Mr Peters said.
However he did not rule out supporting this one.
‘‘We have not seen the full details of the proposed China free trade agreement so we cannot respond in detail.''
National and Labour both back the deal so no other party's position in Parliament could jeopardise it.
Mr Peters said he would examine the deal to ‘‘ensure that retirees are not caught in the crossfire''.
In the speech Mr Peters appealed to the elderly to back his party, saying it was the only one looking after their interests.
NZ First has been flagging in the polls since the 2005 election but Mr Peters said his party was about ‘‘perseverance'' and would feature strongly in this year's election. ‘‘Our time has come,'' Mr Peters said.
‘‘We know this because all the signs are there like beacons in the night. Our policies - foreign control of assets, law and order, race relations strengthening our immigration system and financial security for the elderly - are the issues that matter".
Mr Peters has always had strong appeal to the elderly but in recent times seems to have shed much of that support, despite NZ First pushing for an increase in super payments.
Grey Power attacked the NZ First-inspired policy of the discount SuperGold card for senior citizens.
In his speech, Mr Peters said that was a ‘‘cheap shot'' and more and more people would be grateful for the card as it expanded.
Mr Peters also attacked National but said his policy remained to talk first about the formation of a Government with the party that polled the most votes at the next election.
