On September 24, 2024, Chinese Foreign Minister Wang Yi and Australian Foreign Minister Penny Wong met in New York amid the United Nations General Assembly, marking a significant moment for China-Australia relations. This meeting is part of a series of high-level exchanges between the two countries that aim to strengthen communication and reduce tensions by focusing on collaboration rather than differences. Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, stressed the need for both nations to cultivate a more mature and stable comprehensive strategic partnership. He expressed hope that Australia would work with China to navigate bilateral issues effectively and keep relations progressing positively.

Wong reaffirmed Australia's commitment to enhancing economic cooperation with China and engaging in meaningful discussions on any differences that arise. She reiterated Australia's long-standing adherence to the one-China policy, demonstrating a willingness to foster stable development in their bilateral relations. Analysts and experts note that the resumed high-level communication during this period is crucial, particularly in light of upcoming elections in both Australia and the U.S., which may introduce uncertainties into their foreign policies concerning China.

There is optimism surrounding Treasurer Jim Chalmers' scheduled visit to China, which is expected to facilitate crucial dialogues during the fourth China-Australia Strategic Economic Dialogue. Chalmers' leadership role in guiding Australia’s economic policies positions this visit as a valuable opportunity to further their trade relations and enhance mutual cooperation. Discussions may also extend to innovative sectors, especially concerning climate change and clean energy initiatives. However, experts caution that recent negative developments from the Quad leaders' summit regarding China might hinder the positive trajectory of China-Australia relations.