Vientiane | Australia has cleared the final hurdle in its $20 billion trade dispute with China, with Beijing moving to lift import restrictions on rock lobsters in a major foreign policy victory for Anthony Albanese.

Chinese Premier Li Qiang confirmed the decision in talks with the prime minister on the sidelines of the ASEAN summit in Laos on Thursday, ending four years of coercive trade restrictions that affected Australian agricultural exports including of barley, wine and beef.