Australia and China Strengthen Ties with New Trade and Investment Agreements

Australia and China agreed to collaborate further on trade, investment, and decarbonisation. Australia's Treasurer Jim Chalmers announced that Australia will host counterparts next year to advance discussions in these areas. This marks the first visit by an Australian treasurer to China in seven years, improving previously strained relations.

Australia and China have committed to strengthening their collaboration in areas such as trade, investment, and decarbonisation, Australia's Treasurer Jim Chalmers disclosed on Friday during a visit to China.

Chalmers announced at a news conference in Beijing that Australia will host Chinese counterparts next year to further these discussions. This visit marks the first by an Australian treasurer to China in seven years, aiming to solidify diplomatic ties.

Relations between the two countries had previously deteriorated, notably in 2017 when Australia accused China of political interference, and the tensions heightened after Australia's 2020 call for a COVID-19 origins inquiry. However, following outreach efforts by Australia's Labour government, which came to power in 2022, China has lifted most trade restrictions.

(With inputs from agencies.)