Australia's Prime Minister Malcolm Turnbull met with China's President Xi Jinping on Sunday at the sidelines of the G20 Summit to discuss matters related to foreign investment, Xinhua reported.

During the closed-door meeting, President Xi told Turnbull that he hopes Australia would create a positive atmosphere for foreign investors from China, who are keen to do business with Canberra.

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"I hope Australia would dedicate itself to providing foreign investors a fair, transparent and predictable policy environment," Xi told Turnbull.

Ausgrid

The meeting between the leaders of both countries comes on the heels of the Australian government's rejection of two Chinese bids for a majority stake in Ausgrid, citing national security concerns.

Australia has said that it reserved the right to decide on its foreign investment policies and that China understands that it has to reject some foreign investments under critical circumstances.

Turnbull has urged the Chinese government to adopt more trade reforms to provide easy access for foreign investors to markets and economic opportunities.

Restraint

On the South China Sea issue, Turnbull called on all parties involved to exercise restraint and take measures that would de-escalate the tensions in the region.

Xi, on his part, said he hopes Australia would not take sides in the conflict and would uphold a fair position on the issue.

"There will always be points of difference, and President Xi and I respect those differences of position," Turnbull said.

The two-day G20 summit hosted by Beijing in the city of Hangzhou would come to an end on Monday.

Leaders of the world's major economies participated in the annual global forum to discuss global, regional, and bilateral issues concerning member-countries. 

TagsPrime Minister Malcolm Turnbull, President Xi Jinping, Ausgrid, foreign investment, Australia, china