Beijing, Canberra to expand cooperation

Premier Li Qiang underlined the need on Tuesday for China and Australia to uphold openness and cooperation for mutual success to achieve more win-win results.

Li made the remark while attending the 7th China-Australia CEO Roundtable Meeting, together with Australian Prime Minister Anthony Albanese, in Perth, Western Australia state. A total of around 30 business executives from the two countries attended the meeting.

After listening to remarks from representatives of the business communities of the two countries, Li said the China-Australia relationship is gaining positive momentum for steady improvement.

"As long as both sides respect each other's national conditions, systems and core interests, they can continuously solidify the foundation of mutual trust; as long as they adhere to candid dialogue, inclusiveness and mutual understanding, they can effectively manage their disparities; and as long as they maintain openness and cooperation, they can achieve more mutually beneficial and win-win results," he said.

Li called for both countries to establish a correct perception of each other and set the direction of friendship and cooperation firmly to promote the steady development of the China-Australia comprehensive strategic partnership.

China and Australia benefit from each other's development, forging a close community of shared interests, he said, and they enjoy strong complementarity in economy, which makes them natural partners for cooperation.

Noting that the prospects are broad for the countries' cooperation, the premier said that China and Australia serve as important forces in stabilizing industrial and supply chains and promoting economic growth.

Li expressed his hope that business communities from both countries will continue to deepen cooperation in traditional fields, such as agriculture, mining and infrastructure, and actively explore new areas of cooperation, particularly in future industries such as artificial intelligence, quantum technology and life sciences, to make the pie of China-Australia cooperation bigger.

It is hoped that the business communities of both countries will seize the opportunities to work together to achieve more fruitful results of development and cooperation, he said.

China has been Australia's largest trading partner for 15 consecutive years, with bilateral trade reaching around $230 billion last year.

In his address, Albanese said that since the free trade agreement between the two countries took effect in 2015, Australia's goods and services exports to China have more than doubled, and Chinese exports to Australia have increased 76 percent.

Regarding China's extraordinary achievements in poverty reduction over the past decades, he said, "This has also of course benefited Australian companies and Australian workers who have shared the benefits because of our trade."

Albanese said that bilateral ties are improving, with increasing enthusiasm for cooperation between the business communities of the two countries.

Australia is willing to work with China to look to the future, promote common interests, address common challenges and achieve mutual benefits, he said.

Before concluding his four-day official visit to Australia on Tuesday, Li had an inspection tour of Tianqi Lithium Energy Australia, a Chinese-Australian joint venture comprising a mine for hard rock lithium ore and a lithium refinery in Perth. He also visited Fortescue Metal Group, an iron ore producer in Western Australia.