There is no fundamental conflict of interests between China and Australia, Chinese President Xi Jinping said on Monday.

Xi made the remarks when meeting with Australian Prime Minister Anthony Albanese on the sidelines of the G20 summit in Rio de Janeiro.

Xi said that as long as the two sides adhere to mutual respect, treat each other as equals and seek common ground while shelving differences, China-Australia relations will surely develop well.

In his meeting with Albanese, Xi also called on China and Australia to strengthen coordination and cooperation and oppose protectionism.

Noting that both China and Australia are supporters and defenders of economic globalization and free trade, he urged the two sides to promote the sharing of opportunities and benefits among various countries via opening up, so as to realize common development.

Xi also said he is ready to work with the Australian side to build a more mature, stable and fruitful comprehensive strategic partnership between China and Australia to inject more stability and certainty into the region and the world.

Xi pointed out that in November last year, he and Albanese had in-depth communication in Beijing on strategic, overall and directional issues concerning the long-term development of China-Australia relations.

Over the past year and more, the two countries have maintained close communication and exchanges at all levels, actively promoted the implementation of the important consensus reached between the two leaders, and achieved positive progress, Xi said.

Xi pointed out that more than 250 Australian companies participated in this year's China International Import Expo, a record high, which is a "vote of confidence" by Australian companies in China's economy and cooperation between the two countries.

Noting that the two sides should be firm in expanding the pattern of mutually beneficial and win-win cooperation, Xi said China is willing to import more quality Australian products, encourage Chinese companies to invest and do business in Australia, and hope that Australia will provide a fair, transparent and non-discriminatory business environment for Chinese companies.

Albanese said he is very glad to meet with Xi again on the occasion of the 10th anniversary of the establishment of the Australia-China comprehensive strategic partnership.

Since his visit to China last year, Albanese said the Australia-China relationship has made encouraging progress in various areas, including trade, bringing tangible benefits to the two peoples.

The Australian side stays committed to the one-China policy, opposes "decoupling," advocates promoting economic globalization, and hopes to strengthen cooperation with China in such areas as energy transition and climate change, he said.

Noting that China's development has made important contributions to the long-term stability and growth of the Asia-Pacific region, Albanese said that Australia appreciates China's important role in APEC and other multilateral mechanisms, supports China's role as the host of APEC in 2026, and stands ready to strengthen multilateral communication with China to promote regional peace, stability, prosperity and development.