When asked if China will recommence the import of beef and barley from Australia, Shu Jueting, a spokesperson at China’s Commerce Ministry, said at a regular news conference that “China is willing to discuss basic issues that concern both nations.”

When asked if restrictions on the import of Australian coal have been lifted, he said “they can apply for coal import license normally.”

Additional comments

“Will continue to push for the relaxation of market access for foreign investment.”

“Will steadily expand institutional openness.”

“Local govts and firms say less orders remain the biggest challenge for 2023 trade development.”

Market reaction

AUD/USD has picked up fresh bids in early European trading, rising above 0.6650. The pair is adding 0.64% on the day.