China warned that Australia´s latest move is bound to bring further damage to bilateral relations, and will only end up hurting itself, the Chinese embassy said in yet another reason.

On Wednesday, Australia´s Foreign Minister Marise Payne announced the move by saying she strongly believes the arrangements were ¨inconsistent with Australia´s foreign policy, adverse to our foreign relations.¨

The federal government used its new veto powers for the first time.

China launched Victoria´s Belt and Road Initiative in 2013, inspired by its ancient trade routes and with the aim of linking with an array of nations through a great platform of exchange, modern infrastructure and coordinated policies that lead to the balanced growth of the planet. ef/pll/msm/ymr