China Indefinitely Suspends High-Level Economic Dialogue with Australia

[Asia Economy Reporter Kim Suhwan] Amid ongoing tensions between China and Australia, the Chinese government has decided to indefinitely suspend high-level economic talks with Australia.

According to Bloomberg on the 6th, the National Development and Reform Commission of China issued a statement announcing the complete suspension of the "Strategic Economic Dialogue" with the Australian government.

The National Development and Reform Commission of China cited the Australian government's attitude toward the cooperative relationship between China and Australia as the reason for this measure, explaining that "the Australian government approaches this only with a Cold War mindset and is obstructing cooperation with China."

This move by Chinese authorities came after the Australian government decided last month to fully cancel the Belt and Road Initiative projects signed with the state of Victoria. China and the Victoria state government had signed two memorandums of understanding (MOUs) related to the Belt and Road Initiative in 2018 and 2019.

In response, Chinese authorities strongly protested, stating that "corresponding countermeasures will be taken."

Additionally, on the 2nd, Australian authorities announced plans to fully review the contract leasing the port of Darwin to a Chinese company, citing national security concerns. This contract, signed in 2015, involved leasing the port of Darwin to the Chinese conglomerate Landbridge for 99 years.

Earlier, when the Australian government called for an international investigation into the origin of COVID-19 in April last year, China imposed economic retaliatory measures such as tariffs on Australian agricultural products including beef, barley, and wine, leading to diplomatic conflicts between the two countries.

This content was produced with the assistance of AI translation services.