On May 3 and 4, the Global Foundation held the "Australia in the Asian Century" Summit in Melbourne. Chinese Ambassador to Australia Chen Yuming attended and addressed the summit, Chinese Consul General to Melbourne Shi Weiqiang attended at invitation. Australian Prime Minister Julia Gillard, the representative of the federal opposition leader Andrew Robb MP and the chairman of the Australia in the Asian Century Whitepaper taskforce Dr Ken Henry attended and addressed the summit gala dinner and forum respectively. More than 200 political, diplomatic and business figures were present at the summit.

Ambassador Chen pointed out that China is still the front-runner in global economic recovery, and the IMF report sees no hard landing in China. China taking proactive measures to lower the economic growth rate to 7.5% is aimed to better adjust economic structure and give priority to quality instead of speed of development. China's economy has structural drivers for long term and stable growth, which include the enormous investment demands released by the urbanization and industrialization, the huge consumption demands created by tens of millions of rising middle class, and the consistent productivity rise in China. Ambassador Chen noted that thanks to the coordinated growth of Chinese economy, the mutually beneficial cooperation between China and Australia enjoys broader fields, newer forms and greater potential. It is essential for the two countries to have mutual trust in politics, economy and security, to respect each other's core concerns, and to build a long term and stable relationship of comprehensive cooperation.