Australia and China agree to cooperate further on investment, trade

SYDNEY (Reuters) – Australia and China agreed to cooperate further on investment, trade and decarbonisation, Australia Treasurer Jim Chalmers said on Friday during a visit to the country.

“We will host counterparts next year to continue to advance these discussions on areas like trade and investment, decarbonisation of the industries, business engagement,” Chalmers told a news conference in Beijing, the first visit to China by an Australian treasurer for seven years.

Ties between the nations had soured after Australia in 2017 accused China of meddling in its politics. An Australian call in 2020 for an inquiry into the origins of COVID-19 further infuriated China, which responded with blocks on various Australian imports.

But China has since lifted almost all trade curbs after an outreach from Australia’s Labour government that won power in 2022.