Chinese ambassador urges Australia not to let China-Australia FTA slip away

He also mentions the recent trilateral military exercise in the Northern Territory with the active participation of Chinese, American and Australian soldiers, the second of its kind in just one year. A new round of strategic defence consultations is to be held soon in Australia. A senior Chinese delegation is going to attend the Sea Power Conference here, and China's naval hospital ship Peace Ark will visit Australia soon.

As for the Chinese economy, Ma says that despite the complexity and volatility in the international environment and some downward pressure, in the first half of this year the Chinese economy grew by 7 percent. "Its absolute growth volume is still larger than those in earlier double-digit growth years."

What's more, the Chinese economic structure continues to improve. The services industry now accounts for almost half of total gross domestic product. Meeting the challenges head-on, China will see its economy transformed and become even more dynamic, resilient and sustainable in the long run. According to the International Monetary Fund statistics, in the first half of this year the Chinese economy contributed 29 percent to total world growth.

Ma notes that because of sluggish trade worldwide, commodity prices have been declining. That's why the value of China's imports decreased. But their physical volume still increased.

China-Australia ties have been as strong as ever. According to the 2014 Australia-China trade report issued by the Australia China Business Council, direct trade with China has contributed 5.5 percent to Australian gross domestic product (GDP), double that of agriculture, forestry and fisheries combined.

Nearly 200,000 Australian jobs depend on direct exports to China. Chinese tourists contribute AU$7 billion ($4.9 billion) to the Australian economy each year. For every five dollars spent by foreign tourists in Australia, one comes from Chinese tourists.

"China and Australia are different in history, culture, value, social systems and stage of development. It is only natural that we may not see eye-to-eye on all issues," Ma says.

"It is essential to address our disagreement on the basis of mutual respect and equality, accommodating each other's core interests and major concerns. Our relations will only grow deeper and stronger when our mutual trust continues to strengthen."