Australian treasurer welcomes Chinese efforts to stimulate economy during Beijing visit

Australian Treasurer Jim Chalmers has welcomed efforts by China to perk up its slowing economy. Chalmers was wrapping up a two-day visit to Beijing, the first by an Australian treasurer to China in seven years, as strained bilateral relations mend. Chalmers told reporters that Australia’s economy was slowing because of global economic uncertainty, high interest rates and China’s slowdown. China is the biggest buyer of Australia’s most lucrative exports: iron ore and coal. During Chalmers' visit to Beijing, the two sides conducted meetings for the Australia-China Strategic Economic Dialogue, reviving the once annual talks aimed at growing trade and investment after a seven-year hiatus.