Australia, China make steady progress on free trade talks

China and Australia may conclude a decade of negotiations on a free-trade agreement by the end of this year, Australian officials said on Tuesday after talks with Chinese officials.

"We've spent a very productive few hours with Xu Shaoshi, the chairman of China's National Development and Reform Commission," said Australia's Treasurer Joe Hockey, who declined to give further details.

"The conclusion was that it was doable this year. It could be completed, and that both governments are determined to bring it to completion later this year," said Australian Minister for Trade and Investment Andrew Robb.