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China and New Zealand should promote trade and investment, Chinese President Xi Jinping told New Zealand Prime Minister Chris Hipkins, who led a trade delegation to China seeking more access for his country's primary exports and emerging sectors like gaming.

Although China is New Zealand's largest trading partner, calls have been growing within the island country for it to reduce its reliance on Beijing as geopolitical tensions grow, and an increasing number of small firms are seeking opportunities in markets like Australia and North America.

At a meeting with Hipkins in Beijing on Tuesday, Xi said both countries should promote the "liberalisation and facilitation" of trade and investment, and provide a better business environment for each other's enterprises to invest and operate in their countries.

Xi added that both countries should strengthen cooperation in areas including education, culture and tourism.

Describing New Zealand's relationship with China as one of "the most significant and wide ranging", Hipkins said the key focus of his visit was to help his country's businesses reconnect and deepen relations with their Chinese counterparts.

Hipkins previously said China was a "valuable partner" but he is also aware of domestic calls to seek new markets.

Two weeks ago after announcing his trip to China, Hipkins told New Zealand media the government had signed seven new or upgraded free-trade agreements as "part of our really concerted effort to diversify our overall market shares".

Unlike its neighbour Australia or its other "Five Eyes" security partners, Wellington's interactions with Beijing have remained largely cordial. The two sides upgraded their free trade pact last year.

Noting New Zealand's independent foreign policy, Xi said China had always treated New Zealand as a "friend and partner" and was ready to work with the country to promote the steady and sustained growth of their comprehensive strategic partnership.

"We will continue to see each other as partners instead of rivals," Xi was quoted as saying by Chinese state broadcaster CCTV.

In recent years, however, New Zealand's tone on issues ranging from human rights, the international rules-based order and potential militarisation of the Pacific has toughened, with its Western allies becoming increasingly hawkish towards China.

During his meeting with Xi, Hipkins reiterated the importance of working together to support the international rules-based order and the constructive role China can play in addressing shared global challenges such as climate change and the war in Ukraine, according to the statement from his government.

Xi told Hipkins both countries could maintain communications and work together to help Pacific Island countries thrive. (Reuters)

Sri Lanka has scrapped plans to export 100,000 endangered toque macaque monkeys to China, the Wildlife and Nature Protection Society of Sri Lanka, one of the 30 petitioners who went to court against the proposal, said on Monday.

The island nation, facing its worst economic crisis in more than seven decades, was considering a proposal by a Chinese private company to capture and export wild toque macaques to zoos in China.

Conservation organisations had warned that the monkeys could be headed to labs instead of zoos, and had approached the country's Court of Appeal seeking any decision to export them to China be quashed.

When the matter was taken up on Monday, the attorney general said the Department of Wildlife and Conservation had assured it that "they will not be taking steps to export monkeys to China", WNPS said in a statement.

"The case will be taken up before the Court of Appeal on 6th July to record the above undertaking given to the Court by the State," the WNPS said.

Toque macaques, currently found only in Sri Lanka, are among species identified as endangered by the International Union for Conservation of Nature (IUCN).

Animal rights non-profit People for the Ethical Treatment of Animals (PETA) said the government's decision recognised the animals "aren't commodities to be bought and sold".

"These macaques are individuals with families who live in tight-knit communities. Their lives matter, and so does their contribution to their forest home," PETA primate scientist Dr. Lisa Jones-Engel said.

The value of the proposed deal between the company and the Sri Lankan government had not been disclosed. (Reuters)

Sri Lanka anticipates restructuring $17 billion out of a total $41.5 billion of foreign debts within a five-year term, its president said on Tuesday.

President Ranil Wickremesinghe also said restructuring of local debt will have no impact on the stability of the country's banking system. (Reuters)

Japan's Finance Minister Shunichi Suzuki kept up verbal warnings on Tuesday against the yen's depreciation, saying he would respond appropriately if currency moves became excessive.

Suzuki's latest warning shot came as the dollar traded at 143.43 yen , down 0.06% from late U.S. levels. Japanese officials have sounded the alarm in recent days over rapid weakening of the currency.

"Sharp and one-sided moves" were observed recently in the currency market, he added.

Though he gave little clue whether Japan would intervene to back the yen, the tone of his warning was not so sharp as last year's, when he vowed decisive steps because he was deeply concerned about the weak currency.

"It was important for currencies to move in a stable fashion, reflecting economic fundamentals," Suzuki told reporters after a cabinet meeting.

"We will closely watch currency market moves with a strong sense of urgency and will respond appropriately if the moves become excessive."

A weaker yen boosts profits for exporters and companies with overseas operations, but on the other hand, higher import bills weigh on companies and consumers.

With both positive and negative effects it is difficult to say which factors outweigh the rest, Suzuki said.

"Rising prices have become a big policy issue," he added. "We will closely watch price trends and impacts on people's livelihood and businesses."

On Tuesday, Japan's top currency diplomat Masato Kanda retained his post for a second straight year in an annual reshuffle, as a jittery market requires Kanda's ability to intervene to turn the tide in currencies.

Suzuki did not elaborate on the reason for retaining Kanda, but called him "the right person in the right job".

He added, "Japan needs to keep close co-ordination with G7 and other countries concerned. We take into account the experience and human networks Kanda has gained through his job."

Under Kanda, Japan made rare interventions last September and October to stem weakness in the yen that had carried it as low as just below 152 against the dollar.

Speculation is rife that Japanese authorities may intervene again to support the yen if it falls to 145 to the dollar, near a level that prompted intervention in September. (Reuters)