Australia and China Forge New Era of Cooperation on Trade and Decarbonisation

During a rare visit to Beijing, Australian Treasurer Jim Chalmers announced enhanced cooperation between Australia and China on investment, trade, and decarbonisation. This visit comes after China lifted trade curbs imposed previously. Discussions focused on stimulus measures, trade, investment, and green steel initiatives.

In a rare diplomatic encounter in Beijing, Australian Treasurer Jim Chalmers disclosed new strides in cooperation between Australia and China on multiple fronts, including investment, trade, and decarbonisation. Chalmers commended China's recent stimulus packages, which were a focal point of the meeting.

Chalmers engaged in extensive discussions with Zheng Shanjie, chairman of China's National Development and Reform Commission (NDRC), emphasizing the significant impact of China's economic measures. He expressed satisfaction with the steps taken by Chinese authorities to boost the economy, shared both publicly and in private discussions.

This breakthrough comes after a period of strained relations, with tensions peaking over political meddling accusations and calls for a COVID-19 origin inquiry. However, diplomatic overtures from Australia's Labour government, in power since 2022, have led to the lifting of nearly all trade restrictions, paving the way for improved bilateral relations and cooperation.

(With inputs from agencies.)