CHINA’S PREMIER LI KEQIAN’S VISIT TO AUSTRALIA

Chinese Premier Li Keqiang arrived in Canberra on 22^nd March 2017 for a five-day visit focussed on strengthening China’s economic relationship with Australia and positioning his country as a bulwark against rising protectionism.

Mr Li will spend time in both Canberra and Sydney, and is bringing a substantial Chinese business delegation with him.

On the eve of his departure from Australia, Li and his wife Cheng Hong attended a welcoming dinner held by the Australian Chinese community on Thursday 25 March for approximately 6000 guests. Li addressed his best wishes to the Chinese community and thanked them for being the messengers of the friendship between China and Australia.

Li has spent the past several days talking up China’s commitment to free trade and globalisation, at a time when protectionist and populist sentiments are on the rise in many nations.

Li and Turnbull oversaw the signing of agreements that would expand the China-Australia free trade pact. China also agreed to expand its market for Australian chilled beef exporters.

China is Australia’s biggest trading partner, with bilateral trade exceeding 107 billion dollars and bilateral investment exceeding 100 billion dollars.

China`s Premier Li Keqiang visit to Australia in March 2017 to officially establish a Dialogue on Innovation between Australia and China. A range of crucial industry sectors are set to benefit from a formal ‘Dialogue on Innovation’ between Australia and China that will bolster collaboration on innovation between the two nations.

Under the arrangement, both countries will contribute up to AU$6 million over three years to the next round of the Joint Research Centres, under the Australia-China Science and Research Fund (ACSRF), which supports strategic science, technology, and innovation collaboration considered of mutual benefit to both countries.

According to Minister for Industry, Innovation and Science Arthur Sinodinos, the funding will focus mainly on advanced manufacturing, medical technologies and pharmaceuticals, and resources and energy.

In addition, Australia and China have also established a new memorandum of understanding on Intellectual Property signed between the State Intellectual Property Office of the People’s Republic of China and IP Australia.