Shine a Spotlight on Economic and Trade Cooperation: The Ballast Stone of China-Australia Relations

Remarks by H.E. Ambassador Liu Jinsong at the Reception for the Australia China Business Council (ACBC)

Canberra Networking Day 2026

Mr Rhys Roberts, President and Board Chair of the Australia China Business Council (ACBC),

Members and Friends,

Ladies and Gentlemen,

Good evening. 

Economic and trade cooperation between China and Australia benefits all sectors of both societies. The real hero behind it all is the cargo ship. That is why today I have brought a COSCO ship model, in the hope that it brings you good fortune. For 17 consecutive years now, China has been Australia’s largest trading partner, with annual shipping cargo volume reaching 1 billion tonnes. A couple of days ago, I went to Port Hedland in Western Australia. Watching one giant, fully loaded ship after another shuttling between China and Australia, I felt truly glad. No ship can sail steadily without a ballast stone. President Xi Jinping attended the 4th China-Australia CEO Roundtable with then Prime Minister Tony Abbott during his state visit to Australia in 2014, at which he highlighted that economic and trade cooperation is the ballast of China-Australia relations, and the business communities of both countries are an important force for promoting friendly cooperation. It is our hope that the business communities of both countries will jointly write a more brilliant new chapter in China-Australia economic and trade cooperation.

Let me express my thanks to all our friends from the business community for joining us at the reception this evening. Since its founding in 1973, the ACBC has stayed true to its original mission of advancing economic and trade cooperation between China and Australia, and has gone from strength to strength. You are the gems, big and small, that forge the Council into a ballast for China-Australia relations. You are an important driving force behind the turnaround and improvement in China-Australia relations, and I would like to thank you for pressing ahead against the wind and waves when China-Australia relations went through difficult times, never losing heart and never giving up. And I thank you for your commitment in action to supporting China’s high-quality development, the 15th Five-Year Plan, and China’s newly issued guidelines on developing new quality productive forces, as well as for advancing and renewing China-Australia economic and trade relations.

Let me say this to you all — the year ahead is a big year in which the ACBC can achieve a great deal. We are advised that  Prime Minister Anthony Albanese looks forward to his trip to China for the APEC Economic Leaders’ Meeting next month. Next year, our two countries will jointly celebrate the 55th anniversary of the establishment of diplomatic relations, with many commemorative events to be held. Both sides also have many important anniversaries and major events.

At this time of opportunity and amid once-in-a-century transformations, the great ship of China-Australia relations must brave the wind and waves, and the ballast must be made more solid and ever more stable. A series of figures undersocres the depth and weight of China-Australia economic and trade ties. Australia has been China’s most important source of resources and agricultural products for decades, while China has been Australia’s largest export market and source of imports for more than a decade. Australia is one of the most popular destinations for Chinese tourists during China’s National Day holiday, also known as “Golden Week”. This month, flight bookings from China to Australia were up by 19% year on year, with more than 150 two-way flights per week. Our supply chains are deeply integrated, and our people-to-people exchanges remain constant and unending. 

The ballast needs to be regularly inspected, renewed, and given “some sunshine”. China is now implementing the 15th Five-Year Plan, pursuing high-quality development and high-standard opening-up, and striving to remain a stable and reliable engine of global economic growth. Meanwhile, Australia is pressing ahead with its energy transition, industrial reform, and manufacturing development. All this provides broad space for our cooperation. Our two countries have enormous potential for cooperation in such emerging areas as the clean energy, digital and intelligent economy, ocean economy, and sports economy. The China-Australia Free Trade Agreement has now been in force for over a decade. Both sides have benefited enormously, and it is necessary to discuss how to upgrade the agreement and chart a roadmap for economic and trade cooperation in the next stage. China is continuously deepening its opening-up in the financial, healthcare and telecommunications sectors. We welcome Australia’s active participation in exploring business opportunities.

At the same time, the ballast must be fully integrated with the ship and share its destiny. When China-Australia relations are sound, economic and trade cooperation can go forward smoothly. When China-Australia relations suffer setbacks, economic and trade cooperation is often the first to bear the brunt. More importantly, political mutual trust and strategic communication are like air and water—we hardly notice them when we have them, yet we can hardly live without them once they are gone. The current stabilization and recovery of China-Australia relations is hard-won. I am confident that, under the guidance of the important consensus between our leaders, we will continue to care for and nurture China-Australia relations, treat each other as equals, seek common ground while shelving differences, and pursue mutually beneficial cooperation, so as to consolidate and further advance the China-Australia Comprehensive Strategic Partnership. 

As a Chinese saying full of political wisdom goes, crossing the river by feeling for the stones, and Australian friends often mention it to me with great fondness. With all of you as our ballast, I feel very reassured. I hope the ACBC will continue to serve as quarrymen and quarry, uphold both righteousness and interests, champion integrity, so that the China-Australia relationship can withstand various risks and challenges and sail towards a brighter future. 

Thank you.