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China’s Foreign Ministry: Australia should avoid making already strained bilateral ties worse

Wang Wenbin, a spokesman at the Chinese Foreign Ministry, warned that the Australian side should avoid making already strained ties with China worse.

Additional comments

"China rejects and deplores this."

"China has lodged stern representations with the Australian side."

"China reserves the right to take further actions."

This comes after Australia scrapped two accords between Victoria state and China under Beijing's flagship Belt and Road initiative.

Market reaction

With growing tensions between Sino-Australian, the aussie appears resilient.

The AUD/USD pair is attempting a recovery above 0.7750 as the US dollar remains pressured alongside the Treasury yields.

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