CANBERRA, Oct. 16 (Xinhua) -- Australian government officials, opposition leaders and business representatives on Thursday expressed their willingness to strengthen economic and trade cooperation with China, highlighting the importance of bilateral ties and opportunities for further collaboration.

Speaking at the 2026 Canberra Networking Day hosted by the Australia China Business Council (ACBC), Australian Minister for Trade and Tourism Don Farrell said China is Australia's most important trading and economic partner and has been its largest two-way trading partner for almost 20 years.

Farrell said the China International Import Expo in Shanghai offers valuable opportunities for Australian businesses to showcase products, build relationships and gain a better understanding of the Chinese market. Almost 190 Australian companies are expected to participate in this year's expo, marking a record number, he said, adding that he wants to see Australia do more trade with China.

Chinese Ambassador to Australia Liu Jinsong said, in the first eight months of this year, bilateral merchandise trade totalled 176.9 billion U.S. dollars, growing by nearly 34.8 percent year on year, and Australia's exports to China reached 120.2 billion dollars, up by 43.2 percent year on year, accounting for over one third of Australia's total exports.

China-Australia trade and economic cooperation is shifting gear, with traditional drivers remaining strong and new sources of growth emerging, he said, noting that consolidating and advancing the China-Australia comprehensive strategic partnership is the essential foundation for steady and sustained progress in economic and trade cooperation.

Liu said, under the strategic guidance of the two leaders, China-Australia relations have returned to the right track of stable and sound development, and practical cooperation across all fields is advancing. He called for translating complementary advantages and market opportunities into tangible cooperation outcomes that benefit both peoples.

Assistant Minister for Foreign Affairs and Trade Matt Thistlethwaite said the Australian government is committed to deepening economic ties with China and creating greater business opportunities that will benefit the people of both countries.

He said Australia pursues diversification of trade and also wants to grow the trading relationship with China. Thistlethwaite also highlighted opportunities for cooperation in tourism, climate change, energy, the environment and people-to-people exchanges.

Noting that the Chinese market leads the world in electric vehicles, batteries, solar and digital commerce, ACBC National President Rhys Roberts said, "Chinese competitors are fast, well capitalized and increasingly global."

Australian opposition leader Angus Taylor said the economic relationship between China and Australia is important, noting the need to "nurture it and strengthen it."

He said the two countries have built an extraordinary economic relationship, and he wants to see more commerce and trade between the two countries, creating more opportunities for Australian businesses, more jobs and investment, and higher living standards for both Australian and Chinese people.

"Trade does not run on commodities alone. It runs on knowledge, on relationships between people and on trust," he said.

Matthew Canavan, leader of Australia's National Party, expressed his hope for stronger relations with China, saying the bilateral relationship had long been based on mutually beneficial commercial outcomes. He said the two countries could explore further cooperation in resources, agriculture, energy and regional development.

About 220 political leaders and business representatives attended the event, discussing the Australia-China business relationship.