Established in 1845, Mayura Station produces Wagyu.
This is a type of meat cut which is commonly known as "Japanese beef."
The marbling of fat throughout the muscle is widely-considered one of the best 'cuts' in the world.
Mayura Station managing partner Scott de Bruin says they feel the Chinese market is now ready for their product.
"We've seen that there's a very strong demand for luxury food items, and items which are very safe. So Australian beef is very, very safe, so there's great synergies between Mayura's product and the growing demand for luxury items in China."
The China-Australia Free Trade Agreement took effect in December.
On top of allowing Chinese companies access to Australia's lucrative minerals sector, it also gives Australian firms significant more access to the Chinese consumer market.
Peter Cai - Research Fellow at the Lowy Institute for International Policy in Sydney.
"I think Australia has a lot of competitors, especially New Zealand, Chile, the European Union, etc. So with the signing of the FTA, it means Australian companies now over the next decade actually have an opportunity to play on more level playing field. For example, beef, within the next 10 years, the tariff on beef will be removed, we are talking about 12 to 25 percent."
Australian wine producer Penfolds is also eyeing the Chinese market.
Penfolds' Ewan Proctor says the Chinese palate is becoming more refined as the years go by.
"I think the Chinese customer loves those wines because they are premium wines, they represent the best of South Australian Cabernet in particular, but also I think we have a new style of consumer in China that is really interested to discover new styles of wine, and wine that is really good value for money."
China is the second largest consumer of Australian red wine, trailing only the United States.
Last year, Australian red wine exports to China exceeded 300-million US dollars.
With around one-quarter of the overall red wine market in China, Peter Cai with the Lowy Institute says Australian wine producers need to keep their marketing strategies clear.
"A lot of Chinese consumers become very health conscious. There have been a lot information campaigns around the benefits in drinking red wine. And Australian red wines do enjoy a very solid reputation, especially the Penfold brand is I heard particularly popular amongst the Chinese business community."
The China-Australia Free Trade Agreement allows for duty-free entry for virtually all of Australia's resource, energy and manufacturing exports in the coming 4-years.
Australian services providers are also being given preferential access to the Chinese financial, health and education sectors through the FTA.
For CRI, I'm Huang Yue.
