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China, Australia upgrade bilateral ties


04-14-2016 19:12 BJT

China and Australia have made significant strides together in many fields in recent years. The two countries upgraded bilateral ties to a comprehensive strategic partnership in November 2014.

China has become Australia's largest trading partner, export market, and foreign investor. The total bilateral trade volume reached US$115 billion in 2015. Chinese investment in Australia also grew to over US$11 billion in 2015, up 32.9 percent from the previous year.

Also, both sides signed the China-Australia Free Trade Agreement last June, and made it effective last December.

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