Chinese Premier Li Qiang is embarking on a significant three-nation tour from June 13 to 20, with Australia being the second destination. This visit aims to reinforce the comprehensive strategic partnership between China and Australia, exploring new avenues for cooperation to ensure both nations continue to benefit from their strong and complementary economic relationship.
Economic and trade cooperation stands as a cornerstone of the bilateral ties between China and Australia. In 2023, the total bilateral trade values reached an impressive $229 billion, with China maintaining its position as Australia's largest trading partner, export market, and import source for 15 consecutive years since 2009.
Beyond trade, China plays a pivotal role in Australia's tourism and investment sectors. At the 2024 Australia-China Economic Cooperation Forum, Chinese Ambassador to Australia, Xiao Qian, highlighted that last year alone, Australia welcomed over 550,000 Chinese tourists. Additionally, by the end of 2023, China's total investment in Australia amounted to $58.5 billion, with a direct investment stock of $30.94 billion, positioning China as Australia's fifth largest source of direct investment.
Premier Li's visit underscores the mutual commitment to deepening economic ties and fostering sustainable growth. As both nations navigate the evolving global landscape, this partnership remains crucial for driving innovation, trade, and cultural exchange.
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Graphics: Consolidating the foundation for China-Australia cooperation
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