If Australia's free trade deal with China should falter it would benefit New Zealand, the country's prime minister says.

The new government under Malcolm Turnbull has fast-tracked legislation for the agreement, trying to pressure Labor - which has concerns it will cost Australian jobs - to lock in the deal.

But New Zealand's John Key told the Australian Financial Review on Thursday the benefits of its deal with China have been 11 times greater than the most optimistic estimates and the country would be "quite happy" if Australia's failed.

Labor said the government was starting to play a "political game" with the China deal, after introducing legislation on Wednesday.

A vote can't be held until after a parliamentary committee hands down its report on the details in mid-October.

"Yet they wanted to say `oh look we're upping the ante, we're putting pressure on', when they know no one else can speak on the Bill (yet)," opposition frontbencher Tony Burke told Sky News.