The many complementarities between our economies make us ideal investment partners. Even so, investment levels remain comparatively modest. The key to unlocking opportunities for Australian and Chinese investors is continued reform in our respective economies. Restructuring and reform is never an easy process. But the current strength of Australia's own economy owes much to the continuing commitment of our Government to economic reform.
Australian companies watch China's reform process with interest.
We appreciate China's efforts to improve the business environment for foreign investors and traders. We recognise that enormous progress has been made over the last 20 years but also that many challenges lie ahead. Trade negotiations also have an important role to play in expanding economic and trade linkages. This is a particularly significant achievement in our bilateral relationship this year. China's membership of the WTO will bring great benefits to Australian exporters and will also greatly assist China.