On May 14, 2012, Foreign Minister Yang Jiechi held talks with visiting Australian Minister of Foreign Affairs Bob Carr in Beijing.

Yang said bilateral relations have witnessed considerable development since the establishment of diplomatic ties in 1972. A good Sino-Australian relationship serves the fundamental interests of the people of both countries, said Yang. China and Australia should maintain a spirit of mutual respect, equality and mutual benefit, improve strategic mutual trust and expand practical cooperation so as to promote their bilateral comprehensive cooperative relationship, Yang said. The minister said that economic and trade cooperation is an important foundation for bilateral relations. China welcomes Australian companies to invest in China and hopes that the Australian government will provide a fair and transparent environment for Chinese companies.

Carr hailed the 40th anniversary of the establishment of diplomatic relations as an important milestone in the Australia-China relations. He said the Australian government attaches great importance to its relations with China and is ready to take the opportunity of the anniversary and work with China to enhance high-level contacts, advance friendly exchanges and cooperation in economics, trade and humanities and push the ties to a new level, adding that Chinese companies are welcome in Australia. The Australian side will continue to adhere to the one-China policy, Carr told Yang.

The two ministers also exchanged views on international and regional issues of common concern.