This essay evaluates the China and Australia Free Trade Agreement (ChAFTA) and its impact on Australian and Chinese businesses. It analyzes the background, objectives, policies, and outcomes of ChAFTA. The essay evaluates the positive and negative impact of ChAFTA on Australian goods exporters and service suppliers. It also provides an overview of the opportunities for investors and provisions for Australian consumers and businesses. Lastly, the essay analyzes how businesses can manage this agreement.