The Australian Defence Force is monitoring three Chinese warships which were spotted moving down the coast about 280km east of Sydney, in international waters, on Thursday.
The vessels, which sparked an alert for commercial pilots on Australia-New Zealand routes, has renewed concerns about China's growing military ambitions in the Indo-Pacific.
Prime Minister Anthony Albanese said Ms Wong would meet on the incident with Chinese counterpart Wang Yi "in coming hours" at the G20 meeting in Johannesburg
"At that time, Penny Wong will be making that diplomatic representation on our behalf," Mr Albanese said on Friday.
He said it was not clear if the military drills, which accorded with international law, had involved live fire.
"According to Defence, there has been no imminent risk of danger to any Australian assets or New Zealand assets," the prime minister told reporters in Wollongong
Earlier, Airservices Australia said it was aware of reports of live firing in international waters and as a precaution informed airlines with flights planned nearby.
Ms Wong said it was "normal practice where a task group is engaging in exercises for there to be advice given to vessels and aircraft in the area, and Airservices is doing what it should do, which is to give that advice".
A Qantas spokesperson said the airline had temporarily adjusted some flights across the Tasman and was working with the federal government and broader industry to monitor the situation.
New Zealand Defence Minister Judith Collins said the drills were worthy of attention, describing the vessels as the "most significant and sophisticated" seen in the region.
"This along with the intercontinental ballistic missile that China shot out in October, is real evidence that our distance means nothing now," Ms Collins told Radio NZ.
Beijing did not alert New Zealand that it was sailing the warships along the Australian coast, Ms Collins said, adding that New Zealand's government had been aware for "a few days".
The New Zealand defence force was assisting Australian surveillance efforts, sending a navy vessel and a P8A Poseidon reconnaissance aircraft to monitor the vessels.
The warships were complying with international law in what appeared to be the Chinese military "showing us that they can do this", Ms Collins said.
"They're showing the Australians as well," she added.
Analysts believe the sailing is an attempt by Beijing to project power and send a message to Canberra about China's capability.
The sailing follows a run-in with the Chinese military last week, when a fighter jet fired flares in front of an RAAF surveillance aircraft during a patrol over the South China Sea .
The Albanese government lodged a complaint with Beijing over the near-miss, fearing for the lives of the Australian personnel.
