China has a vast market, a huge pool of labor resources, a stable social and political environment as well as strong growth momentum, which is expected to generate more business opportunities and growth engines to economic development in other countries, including Australia, Cai said.

The two agreements that China and Australia have clinched during Premier Wen Jiabao's visit is expected to open the door for wider cooperation, especially in the area of trade, with one as a rich reservoir of natural resources and the other as a stable and rising huge market. Two-way trade reached US$27.5 billion in 2005.

The Chinese minister pinned hope on the media of the two countries would deepen dialogue and exchanges on the principle of "seeking common ground while shelving differences". Though China and Australia have different social systems, the media need to help the two countries expand understanding with a respect to each other politically, Cai said.

Cai also lauded the media from the two countries for their contributions to disseminating the cultures of China and Australia and building up rapport of the two peoples.

The recent years have witnessed intensified cultural activities. The highlights include the one-week-long Australian Cultural Festival in Shanghai and the extravaganza of Chinese culture and art in Australia's most famous landmark, the Sydney Opera House. An array of activities promoting Chinese culture in Australia, which started from the beginning of 2006, is now well received on the continent.

The State Council Information Office is charged with offering information about China to the rest of the world and letting the world understand China more accurately, the minister said.

With the growth of China's economy, Chinese media industry has undergone a tremendous development in the past 20 years, Cai said. Rough statistics show that China has over 1,900 newspapers, 9,400 periodicals, two news agencies, more than 500 publishing houses, 280 radio stations, 300 TV stations, 120 million Internet users and nearly 1 million websites.

However, compared with their international peers, the Chinese media have only a small share in the international market in terms of distribution and sales revenues, the Chinese minister said.