Transcript Close Cooperation Creates Common Prosperity

Opportunities and Emerging
Trends In China
Speech at China Lunch Room
Business Enterprise Centre
Liu Xin
Vice Consul Economic & Commercial
Consulate-General of the People’s Republic of
China in Sydney
14th March, 2008
content
I. China’s Economic Overview
II. China-Australia Economic and Trade Relations
III. Opportunities And Tips For Doing Biz in China
IV. A brief introduction to CCCA
I. China’s Economic Overview
 Remarkable growth since reform &
opening up in 1978
 Average annual growth rate over 9.6%
1978-2007
 Closed economy to a socialist market
economy
 People’s living standard improved
400 million out of poverty in past 29 years
Per capital consumption of urban and rural
population increased over 4 times
Poor rural population dropped to 20 million
from 250 million
2007 Economic statistics
 GDP 24.7 trillion RMB/3.2 trillion USD 11.4%
Grain production 501.5 million tons
Industrial added value 18.5% growth
Fixed asset investment 1.8 trillion USD
Retail sales of Consumer goods 1.1 trillion USD
Import & Export 2.17 trillion USD
Paid-in FDI 74.8 billion USD
Foreign exchange reserve 1.53 trillion USD

China is a large and growing market
 World largest population: 1.3billion
 10 million more people with medium level
consuming capacity each year
 GDP projected reaches 4 trillion USD
 China’s foreign trade in 2007
Total 2174 billion USD 23.5%
Export 1218 billion USD 25.7%
total
trade
export
import
Import 956 billion USD 20.8%
Surplus 262 billion USD 48%
surplus
II. China-Australia Economic and
Trade Relations
 Strengthened and enhanced through bilateral
high level visit
 Two way trade expanded with the signing of
Trade and Economic Framework Agreement
and launching of FTA talks (10 rounds have
concluded)
 Bilateral trade volume double digital growth
in recent years
(Billion USD)





10.4
13.5
20.4
27.3
32.9
43.8
16%
30%
50%
34%
21%
33%
2002
2003
2004
2005
2006
2007
2007
2006
2005
2004
2003
2002

2002
2003
2004
2005
2006
2007
50
45
40
35
30
25
20
15
10
5
0
 China-Australia trade 2007
(Billion USD)
Total
43.8
33.1%
Export
17.9
32.1%
Import
25.9
33.8%
 Australia is China’s 9th largest trading partner
2007
(Billion USD)
China’s top 10 trading partners
Economy
Total
Per Cent change
%
EU
356.1
27.0
US
302.1
15.0
Japan
236.0
13.9
The ASEAN
202.5
25.9
Hong Kong SAR
197.3
18.8
South Korea
159.9
19.1
Taiwan, China
124.5
15.4
Russia
48.2
44.3
Australia
43.8
33.1
India
38.6
55.5
 Australia is China’s 7th largest source of imports
2007 (Billion USD)
China’s top ten sources of imports
Economy
Total
Percent Change %
Japan
133.9
15.8
EU
110.9
22.4
The ASEAN
108.4
21.0
South Korea
103.8
15.6
Taiwan, China
101.0
16.0
US
69.4
17.2
Australia
25.9
33.8
Russia
19.7
12.1
Brazil
18.3
42.0
Saudi Arabia
17.6
16.4
• China and Australia are highly complementary
economically: engaging gear effect
 Australia is strong in upstream
resources and downstream
high-tech industries with relative
small scale of processing and
manufacturing in the middle
 China is known for its decent
scale of processing and
manufacturing, rich labor
resources and the
corresponding international
competitiveness.
III. Opportunities and Tips for Doing
Business in China
 China’s WTO accession has brought huge trade/investment
opportunities for the world

Average tariff rate reduced from15.3% to 9.8% 2001-2007

Non-tariff measures phased out：import quota & license

100 service sectors opened

Pascal Lamy: “A-plus for China’s performance”

Barshefsky: “Remarkable progress in opening and welcoming imports and
FDI”
 China is continuing to adhere to its opening up
policy and welcome foreign investment.
 China is stimulating its domestic demand and
increasing imports from the world.
 China-Australia Free trade Agreement will
bring more opportunities for trade and
investment between the two countries.
 Tips for doing business in China

Vision for long-term benefits

Understand local condition to develop strategy

Build business network with reliable partners
 Golden opportunities for
business in China
 Act immediately
IV. A Brief introduction to CCCA
China Chamber of Commerce in Australia
 Established on April 3, 2006 representing 105
Chinese investment companies across Australia,
mainly from N.S.W, Victoria, Queensland and
Western Australia dealing with resources & mining,
shipping & logistics, banking & financial services,
aviation, telecommunication, electronics and
consumer goods manufacturing, healthcare,
tourism and trading.
 Head office in Sydney
 Three branches in Melbourne, Perth, and Brisbane
CCCA mission and objectives
 Raising Chinese companies’ image in Australia and
enhancing cooperation with main Australian business
community
 Providing quality service to member companies, protecting
their rights and interest, promoting China-Australia
economic and trade relations, enhancing communication
among its members
 Expanding both internal and external business
opportunities, strengthening and developing cooperation
with Australian business associations and councils
 Serving as a bridge of understanding and friendship
between China and Australia and strengthening their
business ties
Want to know more about CCCA?
contact
 Ms. Helen He
Secretary
China Chamber of Commerce in Australia
L3, 39-41 York Street Sydney 2000
Tel: (02) 8235 5922
 Fax: (02) 9262 1084
 Email: [email protected]
More helpful resources for doing biz in
China on the following websites
 http://www.mofcom.gov.cn
 http://www.ccpit.org.cn
 http://www.fdi.gov.cn
 http://wmfzj.mofcom.gov.cn/
Thank You!
By Liu Xin
Vice Consul Economic & Commercial
Consulate-General of the People’s Republic of
China in Sydney
68 George Street, Redfern NSW 2016
Tel: 02-96984498
Fax:02-98987373
E-mail: [email protected]