The Australian Chamber of Commerce (AustCham) is the peak body for Australian business in China. CEO Udo Doring from AustCham Shanghai spoke in Sydney recently providing his personal views on how business is going from insights working with their 400 members.
There has been some talk that China is slowing down, however the view from on the ground is that AustCham member companies are mostly trading well and optimistic about the future.
What are the opportunities in China?
Key drivers continue to be food security and the level of pollution in China, with Australia being viewed as clean and green. Growth sectors include travel, education and investment where one begets the next, begets the next, hence the importance of collaboration.
With over one million tourists, many are looking for free and independent travel experiences, including destinations such as the US, Canada, UK, Europe and Australia, particularly during Chinese New Year.
Education is not just university but also secondary studies. Employability post studies is particularly important with Chinese students seeking work experience. However where previously 80% of students would stay in Australia, now 80% return to China for more opportunities.
There is also a trend to team sports from football to basketball, rugby and AFL providing opportunities for related business services.
How can AustCham Shanghai help?
- Events – last year the chamber ran 150 business and networking events including policy and trend updates
- Business Development – providing relevant connections and access to promotion opportunities for members
- Representation – for non-commercial entities such as the Tourism NT and TAFE NSW.
AustCham can also provide support with the management of business delegations. Last year there was a successful delegation from Toowoomba, South East Queensland- you can view insights on ABC Landline here.
One of the advantages of being part of a business delegation is to experience China for yourself, enabling a clear decision “Yes or No” as to whether China is a strategy worth pursuing.
When should an Australian Company engage with AustCham Shanghai?
Doing business in China is not easy. There are numerous business and consulting services in Australia to support those looking to enter the Chinese market including the Australia China Business Council (ACBC) so these should be the first point of call.
For those that have done their homework, have a clear strategy and have started their business journey, engaging with China AustCham clearly provides access to a great team with experience and connections on the ground.
About the Australian Chamber of Commerce in Shanghai
Founded in 1994 with early entrants to the China market including BHP, RIO, Bluescope and major banks, AusCham Shanghai provides members with education, advocacy and business services to build a bridge between Australian and potential Chinese business partners for bilateral trade.
To find out more about AustCham Shanghai go to the website here.