Retracing the steps of Gough Whitlam atop the Great Wall of China, Anthony Albanese brushed off Chinese concerns about unfair business practices.
The prime minister pitched himself as continuing the work of his famous Labor forebear to “build stability and security in the region” through engagement.
Just a day earlier, Mr Albanese and Chinese Premier Li Qiang signed a series of agreements to boost business links as US President Donald Trump upends the global trade order.
Australia and China must deepen economic co-operation given increasing trade frictions elsewhere, Mr Li said after a lavish welcome in Beijing’s Great Hall of the People.
“In recent years, co-operation has encountered headwinds,” he said, adding that it was hard to find two countries with more complementary economies than Australia and China.
But despite the positive dialogue and warm welcome the prime minister has received on his six-day visit, he can’t deny the fundamental differences in the relationship.
China has chafed at Australia’s stringent foreign investment regime on Chinese firms.
Mr Li said China would protect the rights of foreign businesses and treat them in accordance with the law, in an oblique reference to Australian plans to tear up a Chinese-owned company’s lease of Darwin Port.
“I trust Australia will treat Chinese enterprise fairly and properly resolve issues regarding market access and investment review,” he told a gathering of Australian and Chinese business leaders.
Mr Albanese said restrictions weren’t targeted at China specifically but were an agnostic effort to protect Australia’s national interests.
“We have a case-by-case issue when it comes to foreign investment,” he told reporters at the Wall on Wednesday.
“It is viewed not on the basis of any one country, but on the basis of an objective assessment of our national interest.”
One issue raised by Chinese business leaders was a concern about existing LNG contracts that could be impacted, for instance, if Australia were to unilaterally change the market through a gas reserve.
“We don’t interfere with those sovereign issues when it comes to gas, whether it be for China, for Japan or for the Republic of Korea,” Mr Albanese said.
The prime minister next flies out to the southwestern capital of Chengdu, where he will spruik Australia’s sporting ties with China and meet some pandas.
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