China suspended all activities under the China-Australia Strategic Economic Dialogue (SED) “indefinitely” on Thursday (May 6), the country’s national economic planner said, the latest setback in strained relations between the two countries.
In a brief statement, China’s National Development and Reform Commission said, “Recently, some officials of the Australian federal government, whose cold-war mindset and ideology actually aim to undermine normal exchanges and cooperation between China and Australia, have taken a series of measures.”
The committee did not say in the statement which specific measures caused them to take action.
The news came after a sharp drop in the Australian dollar, which fell to $0.7701 against the U.S. dollar from $0.7747 on Wednesday.
In 2018, Australia became the first country to publicly ban Chinese tech giant Huawei from participating in its 5G network, leading to tensions in bilateral relations. Relations between the two countries deteriorated last year when Australia called for an independent investigation into the origin of the new coronavirus, prompting China to retaliate with trade.
Australian Trade Minister Dan Tehan said the Chinese decision was “disappointing” because the economic dialogue is “an important forum for Australia and China to address issues related to our economic partnership.
In a statement, Tehan said, “We remain open to dialogue and engagement at the ministerial level.”
The last meeting was held in Beijing in 2017, when Australia’s trade minister signed an agreement on cooperation on Belt and Road projects in third-party countries.
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