China-Australiatradetiesrobust
Riding16yearsofuninterruptedeconomicgrowth,AustraliacontinuestocapitalizeonastringofadvantagestoconsolidatealongandprofitablerelationshipwithChina.
Asidefromhavingstrongmacroeconomicfundamentalsandabeneficiallocation,thecountryhasimproveditsbusinessinfrastructureandmaintainsatransparentbusinessenvironment.
AustralianfirmsrealizethatenteringChinarequiresnotonlypatienceandlong-termcommitment,butalsoaclearunderstandingofChinesecultureandbusinesspractices,oftenrealizedthroughpartnershipswithChinesefirms.
GeoffWilson,CEOofKPMGAustralianoted,"AsChina'stransformationcontinues,weworkwithChinesebusinessfromacrosstheboard,fromlargecorporationstosmallertomedium-sizedcompanies.Asshownbyour30percentgrowthinChina,itisimportantforustocontinuetoenhanceouron-the-groundserviceanddeliveryforthismarket."
AsAustralia'stradewithChinaincreases,thegeneralbusinesscommunityhassupportedeffortstofinalizeafreetradeagreement(FTA)withBeijing.
Forthem,anFTAwouldnotonlyenhancethecompatibilitybetweentheAustralianandChineseeconomiesbutalsofacilitateaddedbenefitsforbothcountries.
hereliabilityisevidentinthestrongpresenceofChinesebanksinthecountry,suchastheIndustrialandCommercialBankofChina,ChinaConstructionBankandBankofChina.
Meanwhile,propertydevelopershavealsoseenincreasedinterestfromChineseinvestors.
AustraliacontinuestocontributetoChina'sgrowthbyprovidingenergyandnaturalresources,ahighlyskilledandmulti-lingualworkforce,andastrong,stableregulatoryclimatethatencouragesinstitutionalgrowth.
Australianfirmsprovidingspecializedservices,suchaslegaladvice,businessconsultancy,humanresources,andarchitecturalexpertise,havebeeninChinafordecades.