Memorandum of Understanding Australia-China Strategic Economic Dialogue

Following the 2024 Annual Leaders’ Meeting between Australian Prime Minister Anthony Albanese and Chinese Premier Li Qiang, the Memorandum of Understanding (MoU) for the Australia-China Strategic Economic Dialogue (SED) was signed on 17 June 2024 in Canberra by Treasurer Jim Chalmers and Vice-Chairman Liu Sushe, and witnessed by Prime Minister Albanese and Premier Li Qiang. The MoU re-establishes the Strategic Economic Dialogue, replacing an MoU signed in 2014. It is a continuation of Australia's previous ministerial dialogue with China on strategic economic cooperation. The last SED was held in 2017.

The MoU includes the following key points:

• Framework Establishment: Re-establishes the SED as a ministerial dialogue.
• SED Objectives: to enhance communication, exchanges, and practical economic cooperation between Australia and China.
• Focus Areas:
  • Macroeconomic environments and policy settings in Australia, China, and globally
  • Economic challenges and reform policies
  • Fiscal policies
  • Investment trends and policies
  • Other mutually beneficial topics and areas of cooperation
• Meetings: The SED is intended to be held annually, alternating between Australia and China.
• Participation: The SED is co-chaired by the Australian Treasurer and the Chairman of the National Development and Reform Commission (NDRC) of China. Other Australian and Chinese ministers and senior government officials may participate regarding specific and relevant topics.
• Duration: The MoU is effective from 17 June 2024 for an initial period of five years, with automatic renewals for subsequent five-year periods unless specified otherwise.