Economics and Trade
Australia’s and China have built a remarkable trade and investment partnership based on complementary interests, vision and entrepreneurship. China's growing middle class and intensive urbanisation is driving a demand for more sophisticated services, providing opportunities to diversify our trade relationship and to take advantage of Australia's strengths in services, agriculture, tourism and education.
ACC Goal: Economic Diplomacy – Promote diversity, growth and innovation of Australia's trade and investment relationship with China
The Australia-China Council: Our Work in Economics and Trade
Australian SMEs in China: Innovation and Engagement
ACC is proud to support the project, Australian Small to Medium Enterprises (SMEs) in China: Innovation and Engagement in the Asian Century, conducted by Deakin University researchers Dr Jane Menzies, Professor Stuart Orr and their Doctor of Business Administration student Sajeewa ‘Pat’ Maddumage, in collaboration with Hong Kong Open University’s Professor Alan Au Kai Ming.
View: Project Overview
Image: Watercube, National Swimming Centre, Beijing Olympics, China, designed by PTW Architects - an Australian firm. Image courtesy of PTW Architects
Community Engagement by Chinese Firms: Practices and Benefits
The Australia-China Business Council hosted a series of national events presenting the findings of the ACC-funded project by RMIT University researchers - Dr Huang Xueli and Dr Warren Staples. The project report examines community engagement practices of Chinese firms in Australia, benefits to Australian communities and challenges faced by the firms in understanding community expectations and building long-term relationships. The project is one of a number of initiatives by the ACC in support of the Government's economic diplomacy agenda.
Inaugural ACC-University of Sydney media fellows completed their placements in China
Inaugural ACC - University of Sydney media fellows - Sean Robertson and Lydia Feng, have returned from Beijing and resumed their studies, after completing their placements in Beijing.
Investing in Taiwan
The Australian APEC Study Centre at RMIT University organised a policy dialogue on ‘Investing in Taiwan: Exploring opportunities for advancing Australian business interests in China’ in Melbourne on 1 May 2014.
More: Investing in Taiwan
The China-Australia Food Security Cooperation Initiative
ACC and Australia-China Business Council (NSW) are partners in the new project to further expand collaborations between Australia and China on food security.
The Lowy Institute 10th Anniversary China Changing Lecture in Beijing
The Lowy Institute 10th Anniversary China Changing Lecture was delivered in Beijing on 18 September 2013 by Andrew Michelmore, CEO of MMG Limited and Chairman of the Minerals Council of Australia.
New Ways to Connect with China: Tourism and International Education Nexus
The new report by the Victoria University, Central University of Finance and Economics (Beijing), Beijing and the Australia China Alumni Association (ACAA) supported by the Council looks at the connectivity between Australia's international education and tourism. It examines the critical yet often overlooked role of Chinese alumni of the Australian education institutions in Australian tourism industry.
China Changing Lecture 2012: Is China ready for global economic leadership?
The Australia-China Council is proud to support the Lowy Institute's third China Changing Lecture, presented by one of China's leading economists, Professor David Daokui Li on 19 April 2012 in Sydney
In 2012 China Changing Lecture, Professor Li discussed China's role in the changing global economic system.
AustCham China Scholarship Program: Fostering the next generation of Asia-literate leaders
The China-Australia Chamber of Commerce in partnership with the Australia-China Council and ANZ Bank offer the unique opportunity for Australian students to work in China. The AustCham China Scholarship Program provides a comprehensive career development platform designed to foster the next generation of Sino-Australian business leaders.
Facts and Figures
China is now:
Australia's largest two-way trading partner in goods and services (valued at A$125.1 billion in 2012)
Our largest export destination (A$78.7 billion in 2012)
Our largest source of imports (A$46.3 billion in 2012)
Source:DFAT China Country Brief
Bilateral Economic and Trade Relationship
In 2011, HSBC projected that China’s economic growth would help to deliver a 7 per cent increase in Australian exports to China each year between 2012 and 2016.
The bilateral economic and trade relationship is diverse and continues to expand and broaden. China is now Australia's largest two-way trading partner in goods and services (valued at A$125.1 billion in 2012), our largest export destination (A$78.7 billion in 2012), and our largest source of imports (A$46.3 billion in 2012).
Australia's services exports to China, valued at A$5.7 billion in 2012, are dominated by educational and recreational travel. China is Australia's largest source of overseas students, with 118,832 students studying in Australia in 2012.
DFAT People's Republic of China country brief provides comprehensive information on the bilateral economic relationship DFAT People's Republic of China country brief
Australia and China agreed to commence negotiations on a Free Trade Agreement on 18 April 2005. Australia-China Free Trade Agreement
Feeding the Future: A Joint Australia–China Report on Strengthening Investment and Technological Cooperation in Agriculture to Enhance Food Security Feeding the Future
The Australia-Guangdong Business Cooperation Council was established in April 2013 through the Australian Government’s Memorandum of Understanding with the Government of the Guangdong Province of China. Guangdong has extensive economic ties with Australia, and the Council will expand Australia-China economic engagement through enhanced dialogue between business leaders and sectors. Australia-Guangdong Business Cooperation Council
Country and region fact sheets provide an economic snapshot of selected countries and regions, including China, Hong Kong and Taiwan. Country and region fact sheets
Australia-China cooperation in global and regional trade and economic institutions:
Australia Week in China
From 8 to 11 April, Trade and Investment Minister, The Hon Andrew Robb AO MP, led the largest Australian trade delegation to ever visit China, as a part of Prime Minister Tony Abbott’s visit to North Asia. The centrepiece of the China visit was the Australia Week in China (AWIC), a Government initiative to advance Australia’s trade, investment, education and tourism relations with China.
700 representatives from over 500 Australian business, education and cultural organisations were involved in the four-day AWIC program of over 90 events in five key Chinese cities – Shanghai, Beijing, Guangzhou, Chengdu and Qufu in Shangdong Province.
Investment was one of the focus areas of the Week. At the CEO Investment Roundtable in Shanghai, Mr Robb launched a Demystifying Chinese Investment - online resource examining Chinese investment into Australia, which was developed by KPMG and the University of Sydney with the support of the Australia-China Council.
Other key events included the Australia-Sichuan investment roundtable, an investment forum in Beijing, and Australian Waterfront Developments Exhibition and Symposium in Shanghai.
During the Week, Treasurer Joe Hockey announced that Australia and China would enhance the offshore market development of China’s currency, the Renminbi, which open opportunities for future clearing and settlement arrangements in Sydney.
- PM's Address to the Australia Week in China Lunch (Shanghai)
- Media Release - Australia's biggest ever trade mission arrives in China
- Media Release - Tourism Australia showcases business events capability at Australia Week in China
- Media Release - Demystifying Chinese investment in Australia online
- Video highlights from the Australia Week in China
New Online Platform to Examine Chinese Investment in Australia
During the CEO Roundtable at the Australia Week in China, The Hon Andrew Robb AO MP, Minister for Trade and Investment, launched Australia's first interactive online resource examining Chinese investment in Australia, developed by KPMG and University of Sydney with the support of the Australia-China Council.
The Demystifying Chinese Investment in Australia website was developed by KPMG and University of Sydney Business School and China Studies Centre, with funding from the Australia-China Council. The online platform is based on the partnership's expanding business report series by the same name, authored by Doug Ferguson (Partner in Charge, Asia Business Group, KPMG Australia) and Professor Hans Hendrischke (University of Sydney Business School).
A funding grant from the Australia-China Council has enabled the reports' data to be better visualised and accessed, initially through the internet. In the next stage of development, an app will be developed, providing a portable version of the animation independent of an internet connection. The project is one of the new flagship initiatives of the Australia-China Council under its New Strategic Plan, and is a direct contribution to the Government's Economic Diplomacy agenda.
Demystifying Chinese Investment in Australian Agribusiness
The new research by KPMG – University of Sydney China Studies Centre shows that despite perceptions that Chinese investors are buying up large areas of Australian farmland, China is not yet a major agricultural investor in Australia, and owns less than 1 percent of Australian farmland.
"Demystifying Chinese Investment in Australian Agribusiness" examines the scale and composition of Chinese commercial investment into the Australian agricultural and agribusiness sectors. It provides an analysis of the challenges faced by China in ensuring the security of its food supply and offers practical responses which could be taken by Australian companies to attract more investment.
Doing Business in China
New Government initiative: ‘Doing Business in China’. The Australian Government in partnership with peak industry bodies – including AustCham Greater China, the Australia China Business Council, the Law Council of Australia and the Business Council of Australia – is taking steps to minimise the severity and frequency of Australia-China commercial disputes. Find out more about the ‘Doing Business in China’
AusTrade (Australian Trade Commission) – China Market Profile, Insights and Opportunities, Tips for visiting and local business practices. AusTrade – China Market Profile
Tourism Australia – Greater China Market Profile – Tourism Australia offers a comprehensive suite of information and services to assist Australian tourism businesses to take advantage of the rapidly growing China market. Tourism Australia – Greater China Market Profile
- Travel advice for China
- Passports Australia
- Visa information
- Top 10 travel tips
- Assistance to Australian travellers: Consular Services Charter
Funding and Grants
Asian Century Business Engagement Plan – a four-year program has been established to assist member-based business organisations harness commercial opportunities in Asia for small to medium sized Australian businesses. Asian Century Business Engagement Plan
Access China – Victorian companies planning to establish new export markets in China may be eligible to use the facilities in the Victorian Government Business Offices (VGBOs). Access China
Department of Agriculture, Fisheries and Forestry: Australia-China Agricultural Cooperation Agreement (ACACA) targets groups in the agriculture, fisheries and forestry sectors looking to enhance cooperation and develop linkages with China.
ACACA offers a special opportunity for Australian citizens to visit locations within China and to make business contacts that might otherwise not be possible. To enhance the value of the program for Australia, delegates are required to share key lessons and contacts from their visit with their broader industry. Australia-China Agricultural Cooperation Agreement (ACACA)
The Export Market Development Grants (EMDG) scheme is a key Australian Government financial assistance program for aspiring and current exporters. Administered by AusTrade, the scheme supports a wide range of industry sectors and products, including inbound tourism and the export of intellectual property and know-how outside Australia. Export Market Development Grants (EMDG)
Tourism Industry Regional Development Fund (TIRF) Grants are competitive merit-based grants on a matched dollar-for-dollar funding basis, to assist tourism operators increase the quality and range of visitor experiences in regional Australia. Tourism Industry Regional Development Fund (TIRF)
Australia-China Business Council (ACBC) The Australia China Business Council (ACBC) is the premier business organisation dedicated to promoting business and trade between Australia and the People’s Republic of China. ACBC is a membership-based organisation, with Branches in New South Wales, Northern Territory, Queensland, South Australia, Western Australia and Victoria providing business-focused information and events for members in all industries. Australia China Business Council (ACBC)
The China-Australia Chamber of Commerce's (AustCham Beijing) overriding goal is to advance Australian Business in China. It functions to provide members with the information, resources and contacts they need to succeed in China. AustCham is a non-profit organisation which operates independently from government. It is funded entirely by our membership and Chamber activities. Together with its sister AustChams in Hong Kong, Shanghai, and Guangzhou, AustCham (Beijing) works to promote strong trade and investment links between Australia and China. AustCham Beijing
Australian Chamber of Commerce – South China(AustCham – SC), formerly known as the Australian Business Association in Guangzhou(ABA) and China Australia Chamber of Commerce – South China(CACC), was formed to promote, develop and expand business relations between Australia and China in the economic powerhouse of South China. AustCham South China
The Australian Chamber of Commerce in Shanghai (AustCham Shanghai) is a well-established and experienced organisation created to strengthen Australia-China business, government and community relationships in China’s Eastern region and promote Australia as a creative and reliable provider of innovative, high quality business solutions. AustCham Shanghai
Australian Chamber of Commerce in Hong Kong promotes and represents Australian business and values, while enabling members to connect, engage, and grow bilateral relationships in Hong Kong. The Chamber seeks to connect members with potential business partners, clients and supporting parties through matching and introductory services as well as a full schedule of more than 100 professional developments, informative and networking events each year. AustCham Hong Kong