Today, I co‑chaired the fifth Australia‑China Strategic Economic Dialogue with Chairman Zheng Shanjie of China’s National Development and Reform Commission (NDRC).
This is the first time in a decade the Strategic Economic Dialogue has been held in back‑to‑back years and comes the day before the 10‑year anniversary of the China‑Australia Free Trade Agreement coming into force.
This is all about more economic engagement with our biggest trading partner in ways that benefit both countries.
More trade and investment mean more jobs and opportunities for our workers and bigger and better returns for our businesses, and that’s what we’re working towards.
Australia and China have complementary economies that benefit from strong trade and investment ties.
Dialogue and engagement give us the best chance to maintain and grow these important links.
Chairman Zheng and I discussed our respective economic outlooks. I highlighted Australia’s strong economic fundamentals and our resilience in the face of global economic uncertainty.
He briefed me on preparations for China’s 15th Five Year Plan, which is one of the best indicators of China’s economic and social priorities.
During the Strategic Economic Dialogue, Chairman Zheng and I welcomed the recommencement of the Australia‑China officials‑level Investment Working Group, which was last held in February 2016 in Beijing.
This gives us a forum to discuss investment trends and policies in both countries and advance Australia’s national interest.
We’re progressing work on our sustainable finance taxonomies to identify areas of commonality and complementarity.
This will help investors compare and assess green investment opportunities across jurisdictions and facilitate cross‑border green capital flows, consistent with our national interest.
Last year, the Strategic Economic Dialogue resumed after seven years. It is an important forum for promoting pragmatic economic cooperation between Australia and China.
Australia continues to work towards a stable and constructive relationship with China, which is in the interests of both countries.
Today’s dialogue shows that we are well on the path to do just that and we’re looking forward to the next one in 2026.