Young people key to Sino-Australian relationship says China’s former Foreign Minister

China's former Foreign Minister Li Zhaoxing has given his views on the state of Australia-China ties at public lecture at the Australian Centre on China in the World at ANU.

Despite historical grievances, there are "immense possibilities" for the two countries to continue working together, an upbeat Mr Li told the audience.

Mr Li described the Australia-China relationship as unique, and expressed growing confidence in the future of bilateral ties based on social and cultural links as well as the strong ongoing trade and commercial ties.

China is Australia's largest trading partner with bilateral trade worth more than AU$150 billion in 2015, while Australia is China's seventh largest source of imports and 13^th biggest export market.

He singled out the potential growth in tourism, student exchanges and Australia as a source of education for Chinese students.

 "The future of our countries relies in young people," Mr Li said.

Community and cultural links are also increasing, and China is the largest source of foreign students in Australia, with 120,000 Chinese students in 2015.

Chinese tourists are also key to the Australian economy.

"This year the number of Chinese visitors to Australia over a 12-month period has surpassed 1 million and this level of tourism is still growing," Mr Li said.

He also downplayed differences between Australia and China over key issues, such as the growing tensions in the South China Sea, where China is protecting its islands.

He argued that that international law will prevail.

"The simplest fact is that the South China Sea covers 3.5 million square kilometres - we didn't claim all of this. We only said the islands belong to China and this is a simple historical fact...In order to protect our borders, it's natural for China to erect doors and gates," Mr Li said.

"There should be equality between all countries no matter how small or large. They should respect each other's sovereignty and territorial integrity and when they have differences they need to manage and resolve these disputes through peaceful means.

"In the meantime the most important thing is to respect truth and all things according to international law," said Mr Li Zhaoxing.

Looking to the future, Mr Li Zhaoxing said fostering the next generation of Australia-China experts will be key to long term friendships. He applauded the role of ANU in nurturing China-literate leaders.

"It's up to young people to carry on our friendship," said Mr Li Zhaoxing.

Mr Li was China's Foreign Minister from 2003 to 2007. He has also served as the spokesman of Ministry of Foreign Affairs, China's Ambassador to the United Nations, and China's Ambassador to the United States. He was appointed Chairman of Foreign Affairs Committee of the National People's Congress in 2008.

Since 2013, Mr Li has been President of China Public Diplomacy Association, dedicated to people-to-people exchanges between China and abroad.