China, Australia announce virtual conclusion of FTA negotiations  

中国与澳大利亚实质性结束自贸协定谈判

Chinese President Xi Jinping and Australian Prime Minister Tony Abbott announced in Canberra on Monday that their countries have practically completed negotiations on a free trade agreement (FTA).

The announcement capped nine years of bilateral FTA talks. China has now become Australia's largest trading partner, export market and source of imports.

Reaching a China-Australia FTA will be of great significance to the two countries' economic relations, Chinese Vice Finance Minister Zhu Guangyao said on the sidelines of the just-concluded Group of Twenty (G20) summit in Brisbane. [Special coverage]

Xi is paying a state visit to Australia after attending the G20 summit.