NAB-ACRI Australia-China Business Engagement Index
December 03 2015
The Australia-China Relations Institute (ACRI) in partnership with National Australia Bank (NAB) have published the first-ever report comparing attitudes of Chinese and Australian business leaders towards bilateral engagement.
Two polls were conducted in parallel, with NAB surveying 580 Australian business leaders and ACRI surveying 1000 Chinese-resident business leaders. The findings were then analysed and compared, resulting in the new Australia-China Business Engagement Index which will be updated bi-annually.
The report's key bilateral insights have also been translated into Chinese and is available for download here.
- Ninety-four percent of Chinese business leaders are favourable towards conducting business with Australia, with Australia ranking number one in comparison to the US, the UK, Singapore, Russia, New Zealand, Japan, Korea and Canada). Fifty-four percent of Australian firms are favourable about doing business with China.
- Seventy-six percent of Chinese companies cite the China-Australia Free Trade Agreement as playing some role in their decision to increase focus on Australia.
- Fifty percent of Australian firms engage with China while 90 percent of Chinese firms report some engagement with Australia.
- Both Australia and China expect to increase engagement over the next 12 months, led by product imports and exports of services and products on the Australian side and product exports and imports and service exports on the Chinese side.
- Both Australian and Chinese firms identify manufacturing and wholesale trade as focal points for further engagement.
Authors: NAB Economics Group; James Laurenceson, Deputy Director and Professor, Australia-China Relations Institute, University of Technology Sydney; Elena Collinson, Senior Project and Research Officer, Australia-China Relations Institute, University of Technology Sydney.