China and Australia have agreed to build a relationship of all-round cooperation for mutual benefit and win-win outcomes in the 21st century, Chinese Premier Wen Jiabao said Monday in Canberra.

"This means that China and Australia should have consultation and dialogue on political, economic and cultural issues, as well as other major international issues," Premier Wen said at a joint press conference with Australian Prime Minister John Howard.

Wen, who held talks with Howard prior to the press conference, described the common understanding reached between them after an in-depth exchange of views in the talks as "very important."

Speaking of the specific countenance of this relationship, Wen said there are four major aspects.

First, China and Australia should enhance the mutual visits and discussions between the leaders of the two governments, according to the Chinese leader.

Second, China and Australia should work together to enhance economic cooperation on all fields. At present, what is more important for the two countries is to expedite the negotiation process for the establishment of a free trade area between the two sides.

Third, Wen said, China and Australia shall work together to enhance their cooperation in science, technology, culture, sports, tourism and other fields.

Fourth, China and Australia should work together to enhance their consultation and coordination on major issues on the bilateral level with respect to questions of major international organizations.

Wen, who is here on an official visit, stressed that China's foreign policy is open. "China does not draw a line on the basis of ideology and China does not enter into alliance with any other country or any other group of countries," he said.

China is ready and willing to live in peace with all other nations on this planet, the Chinese leader added.

Prime Minister Howard said his talks with Wen covered the whole gamut of the economic and political relationship between Australia and China.

"Of all of the relationships that Australia has, major relationships Australia has with other countries, none has been more completely transformed than the relationship with China over the last ten years," he said, describing the transformation of the relationship with China as "remarkable."

Source: Xinhua