The nation's vice president Xi Jinping is currently leading a delegation to Australia and told government and business leaders there that he is hopeful an agreement can be reached at an "early date", reports AP.
"A comprehensive, balanced, high quality and mutually beneficial free trade agreement between Australia and China serves the fundamental and long-term interests of our two countries," he stated.
The vice president added that rebuilding the global economy in a comprehensive and sustainable fashion remains a "daunting task".
As part of the Chinese minister's visit, ten deals were signed between the two countries, with the majority of them related to the energy and resources industries.
Earlier this month, a Chinese delegation paid a visit to Greece where 14 agreements were signed.
The commercial deals ranged from the building of cargo ships to the exporting of olive oil.
By Claire Archer