Chinese, Australian govt, business leaders meet in Sydney

More than 200 high-profile government and business leaders from Australia and China came together on Monday at an event supported by the Council of the City of Sydney to strengthen partnerships in the financial industry.

The fourth annual Sydney China Business Forum, which coincided with Chinese President Xi Jinping's visit to Australia, brought together sector leaders from both countries to share insights on financial services. [Special coverage]

The event gave Australian delegates a chance to make new connections with the country's leading trading partner and allowed both sides to explore issues crucial to greater financial cooperation.

China's policy and regulatory environment, market access for Australian companies, the China-Australia free trade agreement, convertibility of the yuan, the China (Shanghai) Pilot Free Trade Zone and international trade agreements were hot issues at the forum.

Sydney Lord Mayor Clover Moore said the event hosted by the University of Sydney's China Studies Centre would lead to lasting opportunities and stronger relationships.

"Sydney is the gateway to Australia's financial, education, creative and tourism sectors and we are delighted to back an event that shows off our city's credentials," Moore said.

"Most global banks, including China's top five commercial banks and financial institutions operating in Australia, have headquarters or offices in central Sydney."

"Sydney is also the major destination for Chinese students enrolled in Australian universities, and last year about 60 percent of all in-bound Chinese tourists visited the city."

"As a major finance center, Sydney has an essential role to play in China's future growth," said Prof. Kerry Brown, executive director of the China Studies Centre at the University of Sydney.