Australia expects strong relationship with China

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China is expected to have a leadership transition at the 18th Congress of the Chinese Communist Party scheduled to be held on November 8. Swan said at the 2012 China Advanced Leadership Program conference that despite the transition, China and Australia will "remain intertwined."

He said the leadership transition comes at a time when enormous shifts are also taking place in the economic and social fabric² of the Chinese nation.

"As we forge further ahead into the 21st century, China's transformations⁴, its urbanisation, its extraordinary mega-cities, the growing middle class, are not just a sign of progress, they also symbolise China's return to pre-eminence in the global economy," he said.

"The immense scale and pace of China's transformation³, along with the rise of other countries in the region, is going to see Asia achieve some incredible milestones⁵ in the years ahead," Swan said.

The Australian government released its Australia in the Asian Century White Paper on Sunday, which sets out how Australia can capitalise in the rise of Asia in the coming decade and beyond.

"The white paper aims to emulate⁶ some of the foresight⁷ of Chinese and Australian leaders past, recognising that Australia's future will be very much affected⁸ by our region and spelling out a set of pathways that will enable us to face its challenges and opportunities," Swan said.

"To succeed in the Asian century requires us to continue to show forward-thinking and committed leadership," he said.

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