China stands ready to work with Australia to resume dialogue in various fields and put the bileteral ties back on track, the Chinese Foreign Ministry said on Wednesday.

Mao Ning, the ministry's spokesperson, made the remarks at a regular press briefing in response to Australian Prime Minister Anthony Albanese's comments that he was pleased by the "productive" video meeting between Chinese and Australian commerce ministers on Monday and that "it's in Australia's national interest to have good economic relations and to trade with China."

Noting both China and Australia are important countries in the Asia-Pacific region and their economies are highly complementary, Mao said that the healthy, stable development of China-Australia relations is in line with the fundamental interests of the two peoples and conducive to promoting peace, stability and prosperity in the Asia-Pacific region and the world.

Mao added that China is willing to work with Australia to further implement the important consensus reached by the two countries' leaders in Bali and the outcomes of China-Australia Foreign and Strategic Dialogue.

She called for both sides to initiate and resume dialogue in various fields, expand cooperation and manage differences on the basis of mutual respect, mutual benefit and seeking common ground while reserving differences, so as to promote the rebuilding of mutual trust and bring the bilateral relations back on track.

Chinese Commerce Minister Wang Wentao and Australian Trade Minister Don Farrell held a virtual meeting on Monday, during which they exchanged views on how to address each side's economic and trade concerns.

Monday's meeting was a follow-up to implement the consensus reached between the countries' leaders when they met in Bali, Indonesia in November.

Relations between China and Australia soured when Australia in 2018 implemented unfriendly policies towards China, defining China as a national "rival" and blaming China for the COVID-19 pandemic.

In response, China consecutively decreased its investment in Australia during former Australian Prime Minister Scott Morrison's tenure.