Chinese Premier Li Qiang Focuses On Australian Investments

Australia's Governor-General David Hurley drives with China's Premier Li Qiang, left, to look for kangaroos at Government House in Canberra, Monday, June 17, 2024. Li says he has agreed with Australia

Chinese Premier Li Qiang wrapped up his Australian visit in Perth, focusing on China's investments in critical minerals, clean energy, and business ties. Perth, the capital of Western Australia state, is a significant player in the global iron ore market, supplying 39% of the world's iron ore last year. This commodity has been crucial to Chinese industrial growth, thus avoiding trade bans imposed on other Australian exports.

During his visit, Li explored Fortescue's clean energy research facility, showing interest in their plans for carbon emission-free iron ore production, also known as 'green iron.' The facility is testing technologies like hydrogen, ammonia, and battery power for various transportation modes and mining equipment.

Li also visited Tianqi Lithium Energy Australia's processing plant, emphasizing China's interest in investing in critical minerals. The plant produces battery-grade lithium hydroxide for electric vehicles, aligning with global efforts towards renewable energy.

Australia shares concerns with the U.S. regarding China's dominance in critical minerals and supply chain control in the renewable energy sector. To safeguard national interests, Treasurer Jim Chalmers recently ordered Chinese-linked companies to divest their shares in a rare earth mining company.

Interest in 'green iron' production technologies.

Perth key player in global iron ore market.

China investing in critical minerals like lithium.

Australia-U.S. concerns over China's supply chain control.

Treasurer orders divestment in rare earth mining company.

Business round table emphasizes bilateral relations.

Albanese raises press freedom concerns.

Challenges in bilateral relationship highlighted by journalist detention.

Efforts to re-establish diplomatic ties and economic cooperation.

Li and Australian Prime Minister Anthony Albanese attended a business round table in Perth, highlighting the importance of business dialogue in maintaining bilateral relations. Despite past tensions, both leaders are working towards strengthening ties, with annual meetings resuming after a hiatus.

Albanese raised concerns about Chinese officials obstructing Australian journalists during a media event, emphasizing the need for press freedom. The incident involving journalist Cheng Lei, who was detained in China for over three years, underscored ongoing challenges in the bilateral relationship.

Li's visit to Australia and New Zealand marks a significant step in re-establishing diplomatic ties and fostering economic cooperation between the nations.