<gu-island name="KeyEventsCarousel" deferuntil="visible" props="{"keyEvents":[{"id":"64009b5b8f08aa11751d2978","elements":[{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" The foreign affairs minister, Penny Wong, has urged China not to supply weapons to Russia, after she met with her Chinese counterpart on the sidelines of the G20 meeting in India yesterday. She said she also raised trade issues, human rights and consular cases. ","elementId":"0f6779ff-29dd-440a-8332-cc87b5fea360"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" Wong’s meeting was with Qin Gang, who has been serving as China’s foreign minister since late 2022. Wong previously held talks with then-minister Wang Yi in Beijing in December, following earlier meetings on the sidelines of last year’s G20 and UN…
Tag: Australian economy
Australia news live: Albanese says he has confidence in Philip Lowe, Perrottet backs ban on gay conversion practices
From 48m ago Perrottet backs ban on gay conversion practices Tamsin Rose New South Wales is a step closer to banning so-called gay conversion therapy after the premier, Dominic Perrottet, said he would support legislation to end the damaging practices. He said: There is no room for any harmful practices in NSW, particularly if they affect our young and vulnerable. When the parliament returns, my government will provide in principle support for legislation that brings an end to any harmful practices. This is a complex matter and in working through…
Australia closer to a free trade pact with EU but minister warns there won’t be a deal ‘for the sake of it’
Australian and European Union negotiators believe they are getting closer to clinching a free trade agreement as they race to meet a mid-year deadline, but the Albanese government warns it will “not sign a deal for the sake of it”. Guardian Australia understands officials finalised three chapters of the agreement – on competition, telecommunications and maritime services – during a round of negotiations last week in Canberra. The thorny issue of geographical indicators – the EU push to restrict the use of terms such as prosecco and feta by Australian…
Australia politics live: ballooning rental prices to fuel inflation, Treasury says
From 31m ago Inflation in rental prices expected to increase: Treasury You may have noticed he mentioned rental increases there. It is not great news for that already tight market, according to Treasury: Rising housing costs remain a source of cost-of-living pressures for many households. Inflation in newly advertised rental prices has been rising sharply for around a year, reaching 10 per cent nationally in January. The national vacancy rate has reached a near-record low of around 1%. Despite the slowdown in population growth during the pandemic, underlying demand for…
Australian coal shipment to arrive at Chinese port as unofficial import ban ends
Australian coal cargoes are scheduled to start arriving at Chinese ports on Wednesday, unwinding an unofficial ban imposed amid fraying bilateral relations two-and-a-half years ago. The resumption of the bilateral coal trade marks a significant improvement in relations, which hit a low point at the start of the pandemic after Australia pushed for an independent investigation into the origins of Covid-19, angering Beijing officials. China imposed official and unofficial sanctions on a range of Australian products, including wine, lobsters, timber and barley. It left more valuable commodities such as iron…
Australia news live: Chinese envoy warns against allowing differences to ‘hijack’ ties, severe storms for Queensland
From 51m ago Chinese envoy warns against allowing differences to ‘hijack’ ties Daniel Hurst China’s ambassador to Australia, Xiao Qian, has warned against allowing differences between the two countries to “hijack” the overall relationship. Addressing the media at the Chinese embassy in Canberra, he said 2022 had been an “extraordinary” year for the relationship between China and Australia. The change of government had provided an opportunity for a reset, he said. Xiao said both sides considered the relationship to be a comprehensive strategic partnership. Differences and disputes remained, he said,…
Australian coal industry says China market matters less than before, even if import ban ends
Australia would benefit from a lifting of China’s ban on its coal but any gains would likely be modest as miners have largely redirected supplies elsewhere, analysts said. Shares of ASX-listed coalminers shot up on Wednesday after reports China was considering lifting its restrictions on coal imports from Australia from April. The ban was imposed in mid-2020 amid deteriorating bilateral relations that have since begun to improve. Investors pared back their expectations of a significant boon for exporters on Thursday. Whitehaven Coal shares were down almost 2.5% in early afternoon…
Australia’s lobster industry hopeful China will drop trade sanctions
Australia’s lobster industry is cautiously optimistic that China could soon remove trade restrictions, but exporters are wary of being “burned again” by sanctions and volatile diplomatic relations. Many businesses have been paying close attention to foreign affairs minister Penny Wong’s trip to China this week – the first by an Australian minister in three years – where she discussed “trade blockages” with her counterparts. At the height of a diplomatic rift in 2020, Beijing imposed a range of tariffs, bans and restrictions on Australian exports including wine, barley and lobsters,…
Australia news live: Penny Wong heads to China; South Australia braces for largest flood in 50 years
<gu-island name="KeyEventsCarousel" deferuntil="visible" props="{"keyEvents":[{"id":"63a0cbd68f0834f3c057ca06","elements":[{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" The premier of South Australia, Peter Malinauskas, is speaking to ABC Radio about the flooding his state is seeing. ","elementId":"d6f43983-0fca-4993-a39d-ec6fcc101898"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" Malinauskas says the peak flow is approaching the state border, with the town of Renmark expecting its peak on Boxing Day. The premier says significant preparations have been under way for “an event they’ve known is coming their way for six to eight weeks”. ","elementId":"2028c5e1-e2c1-415f-bed9-5cff02587169"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" He says the current prediction of 1,000 homes inundated is likely to increase closer to 4,000 homes over the days ahead.…
China’s economy is losing momentum. What is happening and why does it matter for Australia?
China, the world’s second-biggest economy, is in a rocky economic period marked by rolling Covid clampdowns. The timing is awkward, given China is in the run-up to the 20th National Congress of the Communist party in November, which is expected to extend president Xi Jinping’s grip on power. But the issues go beyond the pandemic and notably include a deflating property bubble. Here we break down China’s economic outlook – and what it means for Australia and other countries. How is China faring? The International Monetary Fund (IMF) last month…