Driven by the mutual desire, China and Australia have reason to continue to build on this good momentum and deepen reciprocal co-op.
Vice-Premier Li Keqiang pointed out that urbanization will be the main driver of China's economic growth in the future.
China's new leadership under Xi Jinping and Li Keqiang has set out its economic policies for the country, giving us a clearer idea of what lies ahead.
The internationalization of the renminbi requires a look at distant horizons as well as the local market
The fact that Vice-Premier Wang Qishan co-chaired the 23rd Session of the China-US Joint Commission on Commerce and Trade with Acting US Commerce Secretary Rebecca Blank and US Trade Representative Ron Kirk on Tuesday and Wednesday indicates the importance attached by the Chinese government to China-US economic and trade relations, and also highlights the important role of the commission in promoting bilateral economic and trade cooperation and stabilizing overall China-US relations.
Vice-Premier Li Keqiang on Wednesday reiterated such a policy shift and called for renewed efforts to push for its implementation.
The next phase of Australia's engagement in the "Asian century" will be largely about China.
Australia's Federal Treasury has hailed China's economic rebound after a brief slowdown.
"Although the economy still faces downward pressure this year, authorities have not taken drastic stimulus measures like those taken two years ago," Zhang said.
The world's largest economies should promote direct input in each others' businesses and help the global recovery
The recent rise in domestic housing prices in defiance of real estate regulations highlights the need for the authorities to take more forcible and targeted measures to tame the speculation-prone housing market.
China should remain particularly wary of the increased possibility of inflation following the new round of quantitative easing in the US.