MEMORANDUM OF UNDERSTANDING
BETWEEN
THE GOVERNMENT OF THE STATE OF VICTORIA OF
AUSTRALIA
AND
THE NATIONAL DEVELOPMENT AND REFORM
COMMISSION OF
THE REPUBLIC OF CHINA
ON COOPERATION WITHIN THE FRAMEWORK OF
THE SILK ROAD ECONOMIC BELT
AND THE ZIST CENTURY MARITIME SILK ROAD
INITIATIVE

The Government of the State of Victoria, Australia (hereinafter
referred to as ?the Parties?) and the National DeveIOpment and Reform
Commission (NDRC) of the People?s Republic of China,

Based on the aspiration of promoting the silkroad spirit centering
on peace, cooperation, openness, inclusiveness, mutual learning and
mutual bene?ts and aspiration to further enrich such spirit in keeping
with the new era; welcoming and supporting China?s initiative to jointly
promote the Silk Road Economic Belt and the 21St Century Maritime Silk
Road Initiative (hereinafter referred to as the Belt and Road Initiative);
willing to enhance practical cooperation within the framework of jointly
building the Belt and Road, the Parties decide to work together to explore
and form synergy in cooperation, enhance policy coordination, and
further promote friendly cooperation.

Recognizing that the NDRC is in charge of macroeconomic
management and comprehensive economic management within the
Government of China while the Government of the State of Victoria is
dedicated to growth in knowledge intensive industries and services
sectors, and the State of Victoria boasts in infrastructure
development, liveability, health, science and technology, and agriculture,
thus providing opportunities for COOperation and partnership under the
Belt and Road Initiative.

The Parties have reached the following understanding:

Article I
Objectives and Guiding Principles of Cooperation

1 . The Parties will work together within the Belt and Road
Initiative, with the aim of promoting connectivity of policy, infrastructure,
trade, ?nance and people, so as to seek new Opportunities in cooperation
and inject new momentum to achieve common development; strive to
develop an Open global economy, jointly combat global challenges and
promote the building of a common future.

. The Parties will promote cooperation based on the following
principles:

(1) Guided by the principles of extensive consultation, joint
contribution and shared benefits, the Parties will respect common
interests and major concerns of each other, deepen mutual trust and
bene?cial cooperation for common development;

(ii) In accordance with the concept of c00peration, development
and mutually bene?cial progress under the Initiative of jointly building
the Belt and Road, the Parties will enhance coordination and provide each
other with support.

The Parties will endeavor to carry out c00peration within their
respective areas of responsibility and as mutually agreed
through bilateral communication.

Article II
Areas of Cooperation

I. Based on existing c00peration, the Parties will enhance
policy cooperation, facilities connectivity, unimpeded trade,
?nancial cooperation, people-to-people bond, and promote Digital
Silkroad Cooperation, etc;

11. Innovate cooperation modes and platforms, encourage
businesses, organizations and relevant agencies on both the Chinese side
and the Victorian State side to play facilitating roles and foster long?term,
stable, sustainable partnerships.

Create an enabling, growth-friendly policy environment for
investment cooperation between the businesses on both sides.

2

IV. Other cooperation that the Parties agree on.

Article [11
Modes of C00peration

Mode of cooperation may include but are not limited to:

1. Through exchange of visits and existing cooperation mechanisms,
the Parties will seek convergence between respective policies and
planning.

11. Focus on the common demands of bilateral cooperation, the
Parties will carry out dialogues and exchanges, joint researches, pilot
programs, knowledge sharing, capacity building, etc.

Ill. The Parties will discuss cooperation with a third Party on jointly
building the Belt and Road, and provide convenience to such cooperation.

IV. The Parties may conclude agreements or other cooperation
documents for cooperation in a specific ?eld.

V. Both Parties will review periodically the progress of
cooperation under the Memorandum of Understanding through
diverse forms of communication as necessity arises at various
working levels, such as the exchanges of visits, Video conferences,
correspondence, etc.

Article IV
Settlement of Differences

The Parties will settle differences in the interpretation, application
or implementation of this MOU through friendly consultations.

Article 
Entry into Force, Amendment and Termination

I. This MOU will enter into force from the date of signature.

II. This MOU will remain in effect for five years and will be
automatically extended for subsequent five year periods and so forth
unless terminated by either party by giving the other party a written
notice at least three months in advance.

This MOU may be amended by written consent of the two
Participants and the amendment will be an integral part of this MOU.

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