China's review of tariffs it placed on Australian wine is progressing well, Chinese Ambassador Xiao Qian told a conference in Sydney on Monday.

"Currently, Chinese authorities are reviewing and investigating our tariffs on Australian wine and things are moving on the right track, in the right direction," Xiao told the Australian Financial Review Business Summit.

A day earlier, Australia's trade minister said China would complete its review into the years-long wine tariffs by the end of March. (Reuters)