China and Australia have signed ten deals worth more than 10 billion Australian dollars ($8.8 billion) mainly in the resources and energy sector.

China and Australia on Monday have signed ten deals worth more than 10 billion Australian dollars ($8.8 billion) mainly in the resources and energy sector, signaling the two countries' close collaboration in this filed.

Chinese Vice President Xi Jinping, who was on a five-day visit to Australia, and Australian Prime Minister Kevin Rudd have witnessed the sining of ten accords at an economic and trade forum on Monday local time.

In his keynote speech to the forum, Xi Jinping put forward a five-point proposal on boosting the bilateral relationship, saying both sides should expand and explore more substantial cooperation on energy strategy, emerging industries as well as free trade talks.

The 10 deals included an engineering and procurement agreement between China's Gezhouba Group and Australia's Fortescue Metals and an agreement between China Development Bank and Karara Mining for rail and port construction in Oakajee, Western Australia.

China Development Bank also reached an agreement with Aquila Resources to expand coal and iron ore projects in the Pilbara in Western Austrila.

The accords also involve China National Offshore Oil Corporation, the country's third largest oil producer and dealer, who signed a JV agreement to tap the country's oil resources, as well as ZTE Corporation, who expanded partnership with Australia's dominate phone company, Telstra, whereby Telstra would become the preferred telecoms suppliers to ZET worldwide.

Source: Caijing