Anthony Albanese held formal talks with China's President Xi Jinping at the G20 summit this evening.

It is the first formal bilateral meeting between an Australian leader and the Chinese president since Malcolm Turnbull was prime minister in 2016.

Mr Albanese says he and Mr Xi discussed positions on climate change, human rights, Taiwan and Russia.

Responding to a question about Xi Jinping's opening remarks, Mr Albanese says it's important "to act in a mature way in all of our international relations".

Mr Albanese says the two countries have "big differences to manage" "There are many steps, of course, that we are yet to take," he says.

Anthony Albanese is speaking from the G20 summit in Bali after his meeting with Xi Jinping. He says he put forward Australia's position "when it comes to the blockages in our trading relationship".

Mr Albanese says Australia and China will soon reach the "milestone of 50 years of diplomatic relations".