A US$223 million contract between the two broadcasters will see an exchange of live news programmes and news gathering support.
This move expands the scope of an April 2010 deal when Beijing agreed to limited programme sharing with Sky News.
Breaking news stories from Sky News will now be broadcast on CCTV-4 and CCTV News Channel with reciprocal rights back into Australia's Sky News National and Sky News Business channels.
"For the first time, Australian major news events will be seen live in China and major Chinese news events seen live on Australia’s news channel", a joint statement from Sky News and CCTV said.
Sky News is owned by Australian News Channel (ANC), a joint venture by Seven West Media, Nine Digital, and British Sky Broadcasting.
Calls to CCTV for comment went unanswered.
