The treasurer announced in April that the central banks of Australia and China are working together on potential future yuan clearing and settlement arrangements in Sydney.

Another focus of the treasurer's discussions will be continued collaboration with China in the G20 and APEC forums during 2014. Hockey will highlight the need for the G20 to push ahead with Australia's pro-growth agenda when he heads to Shanghai to address senior business leaders and officials.

While in Beijing, meetings will also be held with China's other top economic policymakers to reinforce Australia's commitment to closer economic co-operation, including in the area of financial services as the Chinese economy continues on its path towards greater international openness.

Trade Minister Robb is expected to push further for the conclusion of the FTA with China. He will meet with China's minister of agriculture, Han Changfu and will emphasize the importance of strong market access gains for Australian agriculture through an FTA.

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