Australia has pledged to accelerate the approval of an extradition treaty with China as part of a joint declaration released after the first China-Australia high-level security dialogue on Saturday.

The countries have decided to enhance judicial cooperation and boost mutual understanding and address each other's concerns through the high-level security dialogue.

The United States and Australia have become the most popular destinations for Chinese corrupt officials to flee due to a lack of extradition treaties and legal differences.

A number of Chinese corrupt officials from State-owned companies also have sent large amounts of illegal funds to their foreign accounts using money laundering and underground banks.

The treaty between China and Australia, initially signed in 2007, has not been approved by Parliament of Australia, said Hong Daode, law professor from China University of Political Science and Law. "If the treaty takes effect, it will provide a legal basis for judicial authorities in both countries to extradite more fugitives to their own country to face trial and help to confiscate and return a large amount of illicit assets sent overseas," he said.

In Sydney on Friday, the first China-Australia high-level security dialogue took place. The declaration said, "We will strengthen practical cooperation to combat illegal immigration and money laundering and boost efforts to investigate cross-border corruption and freeze and confiscate ill-gotten assets."

China and Australia have many common interests and prospects for cooperation are promising, said Meng Jianzhu, head of the Commission for Political and Legal Affairs of the Communist Party of China Central Committee.

Meng said they will broaden law enforcement cooperation in the areas like fighting transnational crimes, drugs, terrorism and cybercrime, and strengthening dialogue and communications in legal and judicial fields to safeguard security and serve the well-being of the two peoples.

Australian Prime Minister Malcolm Turnbull said ties between the two countries have developed smoothly.

He said Australia attaches great importance to strengthening cooperation with China in security and law enforcement, hoping that the two sides will further deepen cooperation and safeguard security and the interests of the two countries through the China-Australia high-level security dialogue.

Xinhua contributed to this story.

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