11 May 2021 7:24 GMT Updated 11 May 2021 7:24 GMT in Singapore
OPINION: An escalation in political tensions between China and Australia has put the liquefied natural gas sector firmly in the spotlight.
China s National Development & Reform Commission (NDRC) last week announced an “indefinite suspension” of all activities under the China-Australia Strategic Economic Dialogue, accusing some Australian Commonwealth Government officials of launching a series of measures to disrupt the normal exchanges and co-operation between the major trading partners.
The body went further by claiming this was done out of [a] Cold War mindset and ideological discrimination .
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2021-05-07 09:55 By: Xinhua
BEIJING, May 6 (Xinhua) China said Thursday that Australia has been for some time abusing the so-called national security reasons to further restrict and suppress China-Australia cooperation, which has gravely damaged the mutual trust between the two countries and undermined the foundation of normal exchanges and cooperation.
China has to make a necessary and legitimate response, and Australia must take full responsibilities for this, according to foreign ministry spokesperson Wang Wenbin.
Wang made the remarks in response to a query on the decision of the National Development and Reform Commission (NDRC) to indefinitely suspend all activities under the framework of the China-Australia Strategic Economic Dialogue starting from Thursday.
Reuters Reuters
7 May, 2021, 7:08 am
FILE PHOTO: Australian flag flutters in front of the Great Hall of the People during a welcoming ceremony for Australian Prime Minister Malcolm Turnbull (not in picture) in Beijing, China, April 14, 2016. REUTERS/Jason Lee
BEIJING (Reuters) – China “indefinitely” suspended on Thursday all activity under a China-Australia Strategic Economic Dialogue, its state economic planner said, the latest setback for their strained relations.
“Recently, some Australian Commonwealth Government officials launched a series of measures to disrupt the normal exchanges and cooperation between China and Australia out of Cold War mindset and ideological discrimination,” China’s National Development and Reform Commission (NDRC) said in a short statement on the decision.
Prime Minister Scott Morrison - AAP
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China has indefinitely suspended all strategic economic talks with Australia, blaming the Morrison government s attitude towards the relationship.
The move cuts off all diplomatic contact with Beijing under the China-Australia Strategic Economic Dialogue, freezing discussions between key officials below a ministerial level.
But the deeper diplomatic freeze is largely symbolic, given Beijing was already refusing high-level meetings.
China will continue to buy vast quantities of Australian iron ore, minimising the economic impact.
China s National Development and Reform Commission released a strongly-worded statement to explain its decision on Thursday. Recently, some Australian Commonwealth Government officials launched a series of measures to disrupt the normal exchanges and cooperation between China and Australia out of Cold War mindset and ideological discrimination, the commission said.
By Addison Gong
05.30 AM
In this round-up, China’s trade surplus jumps in the first four months of the year, regulators unveil details for implementing the cross-border Wealth Management Connect pilot scheme between the Mainland, Hong Kong and Macau, and Beijing decides to suspend all activity under the China-Australia Strategic Economic Dialogue.
China’s exports grew 22.2% year-on-year to Rmb1.71tr in April, or 32.3% in dollar terms to $263.92bn, according to data released by the Ministry of Commerce (Mofcom) on Friday. Imports rose to Rmb1.44tr or $221.07bn.
For the first four months combined, exports and imports totalled $1.79tr. The trade surplus was $157.91bn, which was 174% higher compared to a year ago.