China and Australia on Monday signed a declaration of intent on a landmark free trade deal more than a decade in the making, opening up markets worth billions to Australia and loosening restrictions on Chinese investment.
The deal will open up Chinese markets to Australian farm exporters and the services sector while easing curbs on Chinese investment in resource-rich Australia.
Prime Minister Tony Abbott and President Xi Jinping, together with a retinue of government ministers, signed the memorandum of understanding during a ceremony in parliament in Canberra.