Chinese Premier Li Qiang and Australian Prime Minister Anthony Albanese hold the ninth China-Australia Annual Leaders' Meeting in Canberra, Australia, June 17, 2024. (Xinhua/Wang Ye)

Although oceans apart, China and Australia have long been forging ahead side by side in history, benefiting greatly from win-win cooperation.

This year marks the 10th anniversary of Chinese President Xi Jinping's state visit to the Oceanian country and the establishment of the China-Australia comprehensive strategic partnership.

However, bilateral ties experienced twists and turns in the past decade, which, fortunately, have been gradually set back on track through joint efforts and high-level dialogues.

On Monday morning, Chinese Premier Li Qiang, during his official visit to Australia, stressed the importance of maintaining and developing the current hard-won positive momentum of bilateral relations.

The essential characteristics of China-Australia relations are mutual benefit and win-win cooperation, and the development of China and Australia is an opportunity rather than a challenge to each other, Li said during the ninth China-Australia Annual Leaders' Meeting with Australian Prime Minister Anthony Albanese.

When speaking of bilateral ties in the past decade, Li said that the most important experience and inspiration is to uphold mutual respect and mutually beneficial cooperation, and seek common ground while shelving differences.

With the joint efforts of both sides, Beijing-Canberra ties have returned to the right track of steady and sound development, showing a positive momentum of continuous improvement.

Since Albanese's visit to China last November, Beijing and Canberra have made further progress with dialogues and cooperation restored and developed, achieving a comprehensive turnaround in bilateral relations.

In April, Australia terminated its anti-dumping measures against Chinese wind towers after the World Trade Organization ruled that Australian duties on Chinese steel products were flawed. China has canceled anti-dumping duties on Australian wine and dropped its ban on a number of the country's beef and lamb exporters. More good news is expected.

Li also said in his meeting with Albanese that China is ready to work with Australia to build a more mature, stable and fruitful China-Australia comprehensive strategic partnership to better benefit the two peoples.

The Chinese premier's visit has looked into the prospects of future development, said Guo Shengxiang, director of the Australian Innovation Institute of Finance and Technology. "Premier Li's visit brought transformative positive energy to a world under change, providing solid hope and relief," Guo said.

The stable and continuous development of China-Australia relations best serves the fundamental interests of the two peoples and is conducive to regional peace, stability and prosperity, Li said when meeting with Australian Leader of the Opposition Peter Dutton.

"A focus on areas of common beneficial interest is conducive to a positive atmosphere for dialogue to continue to broaden and enhance bilateral relations," said Warwick Powell, adjunct professor at the Queensland University of Technology.

The economies of China and Australia are highly complementary, with their cooperation enjoying ample momentum, huge potential, and fruitful results, bringing tangible benefits to both peoples. Since 2009, China has been Australia's largest trading partner, export market and import source for 15 consecutive years.

China's mega-market will continuously unleash new demands and growth vitality, which will provide important development opportunities for Australia and the rest of the world, Li said when meeting Governor-General of Australia David Hurley.

"There's a large amount of knowhow that's being developed in China, ranging from renewable energy solutions, new materials, biotechnology, healthcare and nutrition solutions to name a few, that can benefit Australian enterprises, researchers and consumers," Powell said.

After the meeting between Li and Albanese, a series of fruitful joint outcomes in bilateral ties and pragmatic cooperation was achieved, including plans to resume the Strategic Economic Dialogue in 2024 and to convene the next Annual Leaders' Meeting in 2025, visa agreements, cooperation on giant pandas conservation, and signature of MoUs on education and research, climate change and cultural exchange, among others.

Li is on a three-nation tour from June 13 to 20. Besides Australia, he has paid an official visit to New Zealand, and will also visit Malaysia.