Australia and China Friday ended the third round of talks on a free trade agreement (FTA) Friday in Beijing.

The conclusion of this round of talks "marks the end of the first phase of information change," said Ric Wells, chief negotiator of the Australian side, at a press release.

The two sides exchanged information on their respective trade mechanisms during the three-day meeting, the Ministry of Commerce said in a new release on its official website.

It said both sides feel satisfied with the outcome. This round of talks will be helpful to the improvement of each other's understanding of the other's trade mechanism and set grounds for substantial talks.

The next round of talks is expected to be held early next year in Australia, the ministry said.

The two sides will begin some parts of negotiation documents and preparation of the market accessing part of tariffs, agriculture and service, said Wells.

The meeting was co-chaired by Zhang Xiangchen, deputy director of the ministry's world trade department and Ric Wells.

The governments of the two countries began the free trade talks in Australia in May this year.

Source: Xinhua