The Commonwealth of Australia and China are currently large trading partners as well as active members of the international forum for the governments and central bank governors from 20 major economies, known as what?
Australia–China relations Australia–China relations, often known as Sino–Australian relations, refers to the relations between the Commonwealth of Australia and China. The first Chinese consulate in Australia was established in 1909, and diplomatic relations were established in 1941. Australia continued to recognise the Republic of China government after it lost the Chinese Civil War and retreated to Taiwan in 1949, but switched recognition to the People's Republic of China on 21 December 1972. The relationship between China and Australia has grown considerably over the years. Both countries are actively engaged economically, culturally and politically which spans numerous organizations such as APEC, East Asia Summit and the G20. China is Australia's largest trading partner, and has invested in Australian mining companies to help meet the needs of its growing economy.
Pacific Agreement on Closer Economic Relations The Pacific Agreement on Closer Economic Relations (PACER) is an umbrella agreement between members of the Pacific Islands Forum (the Forum Island Countries plus Australia and New Zealand) which provides a framework for the future development of trade cooperation.