Data compiled by The Australian Financial Review shows key metrics in the critical bilateral relationship have failed to return to levels before ties soured under the Turnbull and Morrison governments, and in some cases are shrinking.

More than a year after China scrapped its zero-COVID policies, the country remains more isolated from Australia and the rest of the world, as President Xi Jinping warns his citizens to watch out for foreign spies and ramps up national security crackdowns.

At the same time as nationalism inside the country rises, the United States and its allies are bolstering defence alliances to try to deter China’s territorial ambitions over Taiwan and parts of the South China Sea. They are also ramping up efforts to cut off China’s access to technology and break its dominance of key industries, such as critical minerals.

Data, which has long been a measure of the strength of Sino-Australian relations, and interviews with key players suggest that although political tensions have eased in recent months economic engagement between both countries is yet to increase significantly. And it is not expected to return to pre-pandemic levels, despite Beijing withdrawing its economic coercion tactics, including wine tariffs last month.