Anthony Albanese-led Australian govt takes charge: What you need to know

Labor's Anthony Albanese has been sworn in as the country's 31st prime minister, promising to bring the country together after a fractious election campaign and vowing to tackle climate change and inequality.

Albanese and new Foreign Minister Penny Wong immediately headed off for a meeting of Quad leaders in Tokyo, where China's growing outreach across the Asia-Pacific will be in focus.

Australian financial markets offered a muted reaction to the election, with the outcome already priced in and no radical change in economic course expected.

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"The relationship with China will remain a difficult one," Albanese said on Monday. "It