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China-Australia trade grew significantly during the first half, indicating a steady improvement in economic relations, while efforts to address trade matters, including tariffs on barley, remain in progress.
Data released by the General Administration of Customs of China on Thursday showed that total bilateral trade hit 800 billion yuan ($111.7 billion), up 16.4 percent year-on-year between January and June, with an upbeat trend for major products such as iron ore and coal.
Full-year imports of Australian coal are expected to reach 30 to 40 million tons, a new high since relations soured, Zhang Feilong, an industry analyst, told the Global Times on Thursday.
The positive trend was mainly due to the resumption of trade and relatively strong demand in China, the expert said.
Trade issues related to other goods such as barley are under discussion.
Speaking at a regular press conference on Thursday, Shu Jueting, spokesperson of the Ministry of Commerce (MOFCOM) said that the ministry is willing to work with Australia to continue to properly resolve economic and trade concerns in the spirit of dialogue, consultation and cooperation.
In April, under the framework of the WTO, China and Australia conducted friendly consultations on a dispute over double countermeasures against barley and reached a consensus, reflecting the spirit of mutually beneficial cooperation, the spokesperson said.
The MOFCOM began a review of anti-dumping and anti-subsidy measures over Australian barley at the request of relevant domestic industries, Shu said.
China is willing to properly resolve economic and trade concerns with Australia while jointly promoting the development of bilateral economic and trade relations, Shu said.
Bilateral tensions have eased since the leaders of both countries met in Bali, Indonesia in November, paving the way for the recovery of bilateral economic and trade relations, which hit the lowest ebb in decades under the previous Morrison government.
Amid improved relations, exports of Australian coal gradually resumed and picked up, and timber shipments resumed in May. Other products such as beef are also coming to China.
China-Australia trade maintained double-digit growth in the first half, which shows that the economies are highly complementary and have broad space for cooperation, Chen Hong, president of the Chinese Association of Australian Studies, professor and director of Australian Studies Centre, East China Normal University, told the Global Times on Thursday. (Global Times)
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- [Editor:kangmingfei]
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