Win-win cooperation the right choice for China, Australia to address global challenges: ambassador

As a concerted measure to address global challenges, win-win cooperation between China and Australia is the only right choice, said Chinese Ambassador to Australia Xiao Qian on March 11.

In his keynote address at the ninth annual Financial Review Business Summit held in Sydney, Xiao said, "China and Australia are major powers in the Pacific. Our two economies are highly complementary. Our cooperation is mutually beneficial in nature."

Chinese Ambassador to Australia Xiao Qian delivers a keynote address at the ninth annual Financial Review Business Summit in Sydney on March 11, 2024. (Photo/He Ji)

Against the backdrop of the current international and regional situation, cooperation between China and Australia is not only in line with the common interests of the two countries but also conducive to peace, stability, and prosperity of the Asia-Pacific region and the world at large, he added.

This year marks the 10th anniversary of the establishment of the China-Australia Comprehensive Strategic Partnership. "China is ready to work with Australia to enhance communication and mutual understanding, strengthen our friendship and cooperation, and bring more benefits to our two countries and two peoples," Xiao said.

According to Australian statistics, the total trade volume in goods in 2023 between the two countries reached a new historic milestone of more than 300 billion Australian dollars, achieving an increase of 8.2 percent compared with 2022. Australia’s trade surplus with China continues for over 2 decades in a row and reached 98.5 billion Australian dollars, accounting for nearly 80 percent of Australia’s total trade surplus with the rest of the world.

The ninth annual Financial Review Business Summit opens in Sydney on March 11, 2024.  (Photo/He Ji)

Xiao pointed out that the practical cooperation between China and Australia is significant to both countries. It’s important that both sides bear firmly the big picture in mind, focus on common grounds, respect each other’s core interests and major concerns, and manage differences properly, wisely, and maturely.

The summit kicked off in Sydney on March 11, emphasizing an in-depth analysis of the current international situation, focusing on Australia’s future development, and exploring concerted measures to address challenges.