The move came as an apparent tit-for-tat response to Canberra's scrapping of a Belt and Road infrastructure pact and threat to undo a deal leasing Darwin Port to a Chinese company.

Beijing will "indefinitely suspend all activities under the framework" of the China-Australia Strategic Economic Dialogue based on the current attitude of the Australian government,” China's National Development and Reform Commission said in a statement Thursday.

The Australian dollar sank 0.6 percent soon after the news.