Expanding business links and the steady recovery of institutional dialogue are injecting new momentum into economic cooperation between China and Australia, officials and industry representatives said at a seminar in Melbourne on Monday, calling for deeper collaboration in finance, clean energy and emerging industries.

Craig Emerson, managing director of the policy advisory firm Emerson Economics in Canberra, said the renewed exchanges between the two countries are helping rebuild goodwill and restore trust.

Emerson, a former Australian minister for trade and tourism, recently returned from Beijing after co-chairing the latest round of the China-Australia High-Level Dialogue. He said the talks not only restored the good relationship "but are now probably opening a new chapter".

He also highlighted the economic complementarity between the two countries, saying the trade relationship keeps evolving and changing "as China's leads change what we buy and sell".

The seminar, themed "Australia-China Economic Relations: Future Prospects", was part of the Bank of China Melbourne Branch's 30th anniversary celebrations and the Victoria Business Confucius Institute's Doing Business with China Workshop Series 2025. Participants emphasized the importance of such platforms in deepening dialogue and practical cooperation between the two countries.

Fang Xinwen, Chinese consul general in Melbourne, underscored the resilience and long-term momentum of China's economy and expressed expectations for deeper bilateral economic collaboration.

The 20th Central Committee of the Communist Party of China is convening its fourth plenary session in Beijing to deliberate on a blueprint for China's development over the next five years, Fang said, which marks the opening of a new chapter in the country's modernization drive.

"China will unswervingly advance reform and opening-up, develop new quality productive forces and continue releasing the potential of its vast market, bringing more opportunities and confidence to countries including Australia," he said.

'New golden era'

Last month, the Australian state of Victoria released a new strategy outlining its engagement with China over the next five years, envisioning "a new golden era" of cooperation in areas such as agriculture, healthcare, education and innovation. Fang said the strategy would inject renewed momentum and offer clearer direction for deepening bilateral economic engagement.

Li Mang, general manager of Bank of China Sydney Branch and chairman of the China Chamber of Commerce in Australia, said China is developing new quality productive forces through technological innovation and green transformation, while Australia is prioritizing clean energy, critical minerals and local manufacturing — "areas that align closely with China's development strategy".

"By leveraging our complementary strengths and promoting innovation, digital transformation and sustainable investment, both countries can unlock new drivers of growth and enhance long-term competitiveness," Li said.

The foundation of the bilateral relationship lies in the people and its vitality is fueled by businesses, he said.

"We seek to strengthen not only trade and investment ties, but also cultural and educational exchanges, enhancing mutual understanding and trust between the business and academic communities of both countries."

Emerson added that future cooperation could also expand into health services and artificial intelligence, noting that home-based rehabilitation, aged care and AI-assisted medical diagnostics could benefit both countries and the wider region under Asia-Pacific Economic Cooperation-related mechanisms.

xinxin@chinadaily.com.cn