Business

By Marina Zhang

Note: This article appeared in The Diplomat on June 6 2023.

Executive Summary

The political relationship between Canberra and Beijing started going off the rails in 2016. The first casualty was a diplomatic freeze. In 2020, political tensions spilled over to disrupt around a dozen Australian goods exports. The Australian government responded by loudly urging businesses to diversify as geopolitical risks jumped.

From farmers to miners to cancer care providers, big companies to small entrepreneurs, Australian business engagement with the People’s Republic of China (PRC) is deeper and more diverse than commonly appreciated.  Yet after having long urged Australian businesses to take advantage of the PRC market, particularly since the China-Australia Free Trade Agreement (ChAFTA) was enacted in 2015, more recently Canberra has been urging caution and emphasising the importance of diversification.

Executive summary

Fintech payments innovation in China, driven by in-app mobile payments usage, is transforming the way in which people and businesses pay for goods and services.

The Australia-China Relations Institute (ACRI) at the University of Technology Sydney (UTS) welcomed former Fishburners CEO and Startup Muster co-founder Murray Hurps to address our first emerging leaders networking evening for 2019.

The competition for technological supremacy between the US and China will dominate the next decade.

Whose model is going to win? While the US is more formidable, its lead may be challenged by the Made in China 2025 campaign.

The Australia-China Relations Institute (ACRI) at the University of Technology Sydney (UTS) welcomed Daniel Street, Senior Strategist for the private-sector arm of the World Bank Group, the International Finance Corporation (IFC), based in Washington DC, to address ACRI's fourth emerging leaders networking evening. 

ACRI's emerging leaders networking evenings are an opportunity for young professionals with an interest in Australia-China relations to connect with others in the space and learn from their insights.

It is well known that China is now Australia’s largest and most lucrative source of tourism to Australia at 1.35 million visitors and AU$11 billion annually. It is less well known that 700,000 Australians visit China annually and Australia ranks as the 13th largest source of inbound tourism to China.

The rapid changes in China’s economy and society since the reform period have generated strong opportunities for exporters of natural resources, and Australian seafood exporters have responded accordingly. Australian seafood products now have a significant presence in the Chinese seafood market, characterised in particular by high-value products such as rock lobster and abalone.

ACRI/Urban Taskforce industry breakfast: Has Chinese capital stopped investing in Australian real estate or is it just the tip of the iceberg?