Sino-Australian economic ties strong with reliance on each others economies

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The  Shanghai Business Review April 2015 Australian Report says the relationship with China has become increasingly cooperative, with investment into Australia from Chinese continuing to grow as the two nations enjoy strong trade relationships.

According to Danny Armstrong, general manager for National Australia Bank, China Banking, Australia and China have “wonderfully complementary economies”.

Although trade in goods has been a huge part of the Australia-China economic relationship, investment from China into Australia has also been important and influential. China is currently Australia’s thirteenth-biggest investor.

Danny Armstrong, Head of NAB China
Danny Armstrong, Head of NAB China

Armstrong points to China allocating Australia a RQFII quota, involving “trialling a number of elements to enable qualified Australian institutional investments to invest in China utilising renminbi”, thereby cementing greater scope for investment in the future.

 

Alice Cawte, Consul General of Australia in Shanghai says there is now two-way trade of more than $150bn annually and significant levels of direct investment, $20.8bn from Australia into China, and Chinese investment in Australia of $6.4bn.

Peter Arkell, Chairman of AustCham Shanghai said there is a very vibrant Australian business community in Shanghai. Financial services are well represented, so is education and hospitality; construction has a big presence, as well as a number of Australian SMEs doing well in China.

To read the article in full or access other insights from Shanghai Business Review go to their website.

If you would like to find out more about NAB capabilities in China go to NAB’s China website or get in touch with myself or one of our professional community members here.