AUSTRALIA and China’s leaders nearly got into a “beef” today after chicken was served at a state lunch in Canberra, not prime Aussie cuts.

China’s Premier Li Keqiang jokingly ribbed Prime Minister Malcolm Turnbull for not serving Australia’s famous beef at the Parliament House lunch after media reports their trade talks this week would secure Australia a massive increase in beef exports to China.

Prime Minister Turnbull listened with a wry grin as Premier Li outlined his surprise to find chicken on the menu, not beef, during a wideranging speech where he pledged to stand by Australia in fighting for free trade and stability in the Asia-Pacific.

The two leaders will hold bilateral talks in Canberra tomorrow covering trade, regional stability, tourism — and even the rise of Australian rules football and wine exports in China — in the first stop of Premier Li’s week-long tour of Australia and New Zealand.

Both leaders vowed to fight for free trade in a joint message against the new protectionist economic stance from the US under President Donald Trump.

“We believe that to resolve trade imbalance we need to continue to expand trade, that is the solution,” Premier Li said.

“We cannot close our doors, that is not the solution.”

He ended his speech by saying China wanted to continue to import more from Australia and a gentle dig.

“For the first time, we are importing chilled meat from a foreign country — but it is a pity that I haven’t got to taste your beef today,” he said.

Earlier, Prime Minister Turnbull had welcomed the deepening ties between Australian and China, while adding a message about the importance of stability in the Asia-Pacific.

“Free trade can only thrive in a peaceful and stable environment, both our countries know this well,” Mr Turnbull said.

“Australia and China have both benefited immeasurably from the stability in our region that has been underpinned by the rules-based international order.

“During this visit, Premier Li and I will discuss, as we have before, the importance of upholding and maintaining stability in our region.

“We believe China has much to contribute to global peace and prosperity in this time of rapid change.”

The leaders are expected to sign new agreements and announce the next phase of the China-Australia Free Trade Agreement during the Premier’s visit.

It’s the first visit by a Chinese Premier to Australia in 11 years.

Earlier today, Deputy Prime Minister Barnaby Joyce denied anti-Chinese investment sentiment existed in Australia.

Mr Joyce said there was no reason to tighten foreign investment laws.

“We have people lined up out the door and down the street wanting to buy rural property in Australia,” he told reporters in Canberra on Thursday.

A Lowy Institute poll of more than 1000 Australians last year found that 87 per cent opposed allowing foreign companies to buy Australian farmland.

Liberal MP Andrew Laming says foreign ownership is an issue for Australians.

“It’s very hard for many Chinese investors to get finance out of China, and by the same token here in Australia, we do have a reluctance about them owning major assets,” he said.

“This is something both countries have to get over because the opportunity to work together has such great potential.”

The issue has been highlighted by a decision last year to bar the Chinese purchase of the NSW government-owned power distributor Ausgrid.

Nationals MP Luke Hartsuyker, who visited China last year, said his northern NSW electorate was exporting fresh milk to Shanghai as a result of the current free trade agreement.

“Those benefits are not at the big end of town ... they are flowing through to farmers at the farm gate,” he said.

The leaders will also discuss the progress of the China-led Regional Comprehensive Economic Partnership talks that exclude the US. Mr Turnbull may inquire about the legal issues surrounding 14 Crown Casino employees arrested and detained for five months without charge in China.

China may seek progress on an extradition treaty, which is facing parliamentary delays in Australia, in order to bolster efforts to crack down on corrupt officials who have fled.

Labor MP Nick Champion said Australia’s role as a middle power in the region was to actively engage with big nations.

“This is our neighbourhood and this is where we should be primarily concerned,” he said.

It won’t be all work and no play for the leaders, however.

Mr Li and Mr Turnbull will watch the Sydney Swans take on Port Adelaide in the harbour city on the weekend.

The AFL will stage a match between Port and the Gold Coast in Shanghai in May.