President Xi Jinping called for soured relations with Australia to "improve" and "develop" on Tuesday, as the two countries held a first formal summit in more than five years.

Xi said that previously warm ties between the two countries were "worth cherishing".

"We should improve, maintain and develop our relationship, as it is consistent with the fundamental interests of both countries' people," the president said.

Australian Prime Minister Anthony Albanese said he discussed trade, consular and human rights issues in the meeting with Xi.

"This was another important step towards the stabilisation of the Australia-China relationship," Albanese said.

"We are always going to be better off when we talk to each other, calmly and directly. There are many steps yet to take.”

The meeting takes place as both countries work to improve relations overshadowed by disputes over trade, human rights and the origins of the Covid-19 coronavirus outbreak.

Canberra's relations with Beijing began to sour in 2017 when it introduced laws to deal with what it said was Chinese interference in Australian politics.

Beijing was also angered by Canberra's 2018 decision to ban Huawei from its 5G network on national security grounds, a decision followed by other Western nations.

Xi on Tuesday also met his South Korean counterpart Yoon Suk-yeol, who expressed hopes for a mutually beneficial, mature relationship with China, South Korea's Newsis agency reported.

Yoon expressed hopes for greater cooperation to rein in North Korea's nuclear and missile development, and to tackle regional and global issues including climate change, Newsis said.

Xi told Yoon that the two countries' relationship is important, according to the report. (AFP/Reuters)
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Last updated: 2022-11-15 HKT 18:19