Canberra is close to an agreement with Beijing that would allow Australian suppliers to ship five trial canola cargoes to China, sources familiar with the matter said, a move towards ending a years-long freeze in the trade.

China's Ministry of Commerce and Australia's Department of Foreign Affairs and Trade has signed a memorandum of understanding (MoU) regarding the implementation and review of China-Australia free trade agreement (FTA),

Prime Minister Anthony Albanese meets with China's Premier Li Qiang, who takes a thinly veiled swipe at Donald Trump's tariff policies while calling for greater economic ties between Australia and China.

Major miner BHP has said it is too costly for Australia to build a "green iron" industry after the country and China agreed this week to jointly work to decarbonise the steel supply chain, responsible for nearly a tenth of global emissions.

Chinese leader said the two countries had overcome a series of ‘setbacks’ and stressed the importance of ‘equal treatment’.

Premier Li Qiang called on Tuesday for China and Australia to further strengthen higher-quality cooperation and create a stronger synergy for development to effectively address uncertainties.

Australia is now less sensitive to China, but Chinese growth is likely to be enough to keep the iron ore price elevated.

Australia’s potential to export green metals – made here using abundant, cheap renewable energy – could deliver immeasurable economic benefits and accelerate the global race to net zero. It’s now a step closer.