Treasurer Jim Chalmers met with Chinese Finance Minister Liu Kun on the sidelines of the G20 summit in India, the first meeting of its kind in four years. 

“It’s really important that we’ve been able to re-establish this dialogue,” Mr Chalmers told 7.30.

“We are much more likely to stabilise this key relationship with engagement and dialogue. And that’s what this meeting was about.”

The Australian Treasurer told his opposite number that Australia wanted to see existing trade restrictions lifted.

“We’d like to make progress on that in advance of a prime ministerial visit to China ideally later in the year,” he said. 

Mr Chalmers described the conversation as free-flowing: “It was certainly a friendly conversation … the overwhelming tenor of the conversation was a friendly, constructive conversation between two countries who are very important to each other.”

Speaking through interpreters, the two ministers discussed trade restrictions on Australian barley, wine and live lobster.

“It’s in the interests of not just our economy and our exporters and our employers and our workers and our farmers, but also we believe in the interests of the Chinese and their economy, to lift these restrictions as well,” he said.

Pressed on whether the Australian government would re-open its WTO dispute against China if Beijing refused to lift tariffs, Mr Chalmers said he did not want to pre-empt any further action.

“And, so, let’s see what happens when the deadline is reached for that reconsideration.”

Human rights concerns

The treasurer told 7.30 he raised “deep concerns” about the fate of two detained Australians, journalist Cheng Lei and academic Dr Yang Hengjun.

Cheng Lei was first detained in August 2020 on suspicion of “illegally supplying state secrets overseas”.

At the time, the Australian journalist was working as a presenter for state media CGTN. A verdict in her case was expected on July 19 but has again been postponed.

Dr Yang Hengjun was arrested at Guangzhou airport in 2019. He was tried in secret in 2021 over spying allegations and he remains in custody.

“We would like to see those cases resolved so that those two Australians can be with their loved ones again,” Mr Chalmers told 7.30.

Mr Chalmers said he raised concerns “with the pace of those cases.”

“We are very concerned about the welfare of both of these Australians.”

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