The two sides were preparing for a fifth round of talks between military commanders at an unspecified date, Wang added.
"Australia urges restrain at LAC and supports continued moves by India for de-escalation".
In what could come as a dampener to China's optimistic assessment, India on Thursday stated that the process of disengagement of troops in eastern Ladakh had "not yet been completed".
Barry O'Farrell on Friday hit again at Chinese Ambassador to India Sun Weidong.
The Indian Navy deployed a range of its frontline warships and submarines in the IOR when the border tension escalated after the Galwan Valley clashes on June 15 in which 20 Indian army personnel were killed. "We hope the Indian side will work towards the same goal with China, implement the two sides' consensus and jointly uphold peace and tranquility along the border".
"New warplanes affiliated with the PLA Navy, including H-6G and H-6J bombers, recently conducted intensive round-the-clock drills in the South China Sea", the Chinese Communist Party (CCP) mouthpiece Global Times reported Thursday.
"Both sides should grasp the fundamental interest of the two countries and their peoples, stick to friendly cooperation and properly handle differences to bring the bilateral relations back to the normal track", Sun said.
"As businesses around the world want to diversify, we wish to increase trade and investment between our countries", he said. China would "follow the path of peaceful development and will never seek hegemony or expansion".
The Chiense ambassador said that "it is short-sighted and harmful to deny long history of peaceful co-existence between the two countires" and protray China as "opponent and strategic threat due to temporary differences and difficulties".
Meanwhile, India on record refuted China's claim that disengagement had happened on most locations on the LAC.
On Friday, India said an agreement had been reached for "early and complete disengagement" at the Pangong Tso flashpoint but politicians from India's opposition Congress Party say satellite footage shows new Chinese constructions on land seized from Indian in May. "Our economies are highly complementary, interwoven and interdependent. Forced decoupling is against the trend and will only lead to a lose-lose outcome".
Sun compared India-China ties to "exquisitely crafted glass" that could be broken by "recklessness within seconds". To join us And keep getting every necessary update.
Secondly, while China firmly upholds its sovereignty, it "will never engage in aggression or expansion", Weidong said.