"Foreign Minister Penny Wong's visit to China this week to mark the 50th anniversary of diplomatic relations is a welcome and important step towards rebalancing what remains a crucial economic relationship for Australia," Innes Willox, Chief Executive of the national employer association Ai Group said today.
"The meeting is a positive follow-up to the leaders' meeting in November between Prime Minister Albanese and President Xi.
"Rebuilding the damaged economic relationship will take time and this week's meeting will be an opportunity to further explore longstanding differences and seek to find areas of cooperation.
"Differences over global security issues are likely to linger but it is hoped through increased dialogue the economic ties can get on a firmer footing.
"A key step in a rebuilt relationship for Australian industry will be the winding back of the targeted measures China has taken against key sectors of Australian exports. It is hoped some positive signs on that front will emerge from this week's meeting.
"China's economic growth has noticeably slowed in recent months in large part due to the ongoing COVID restrictions. If allowed, Australia can play a part in the recovery of China's growth story once those restrictions are further eased.
"The visit by Foreign Minister Wong could not have come at a better time for Australian industry hoping to re-engage with a major market for our goods, services and inputs," Mr Willox said.
