Australia and China signed a trade deal which extends beyond mining.  Australia is the most China-dependent country in the world.  Exports to China count for 5.3 percent of the GDP.

Two-way trade, which reached A$151 billion ($132 billion) in 2013, has been driven by China’s insatiable appetite for resources and energy, while Australia mainly buys cheap Chinese manufactured products.

China supplied 20 percent of Australia’s A$256 billion of imports in 2013 and bought more than 35 percent of its exports last year, International Monetary Fund data show.

95% of Australia’s exports to China will be free of tariffs.

The issue of investnment by China’s state-owned enterprises was deferred in order to get the deal done.