It is understood a report into Australia's complaint about Beijing's punitive tariffs has been given to both sides.
As was the case with the organisation's review into the barley ban, the report will not be made public as the two nations have a number of weeks to consider the findings.
Asked about the prospects of a resolution, the prime minister was optimistic.
"I'm very hopeful of a breakthrough that removes the impediments when it comes to wine," he told reporters in Canberra on Tuesday.
"The wine industry ... had substantial exports to China.
"It's pretty good product for China to receive, this is a win-win."
China slapped trade sanctions on $20 billion worth of Australian products at the height of a diplomatic spat in 2020.
Beijing previously lifted tariffs on Australian barley exports following a complaint to the WTO.
Australia suspended its dispute against China in exchange for Beijing agreeing to review its sanctions.
Mr Albanese will visit China for talks with President Xi Jinping later this year.
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