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Opportunities and Emerging Trends In China

Opportunities and Emerging Trends In China

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Opportunities and Emerging Trends In China

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  1. 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

  2. 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

  3. 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

  4. 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

  5. 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

  6. 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

  7. China’s foreign trade in 2007 Total 2174 billion USD 23.5% Export 1218 billion USD 25.7% Import 956 billion USD 20.8% Surplus 262 billion USD 48%

  8. 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)

  9. Bilateral trade volume double digital growth in recent years (Billion USD) • 2002 10.4 16% • 2003 13.5 30% • 2004 20.4 50% • 2005 27.3 34% • 2006 32.9 21% • 2007 43.8 33%

  10. China-Australia trade 2007 (Billion USD)

  11. Australia is China’s 9th largest trading partner 2007 (Billion USD)

  12. Australia is China’s 7th largest source of imports 2007 (Billion USD)

  13. 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.

  14. 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”

  15. 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.

  16. Tips for doing business in China • Vision for long-term benefits • Understand local condition to develop strategy • Build business network with reliable partners

  17. Golden opportunities for business in China • Act immediately

  18. IV. A Brief introduction to CCCAChina 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

  19. 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

  20. Want to know more about CCCA?contact • Ms. Helen HeSecretaryChina Chamber of Commerce in AustraliaL3, 39-41 York Street Sydney 2000Tel: (02) 8235 5922 • Fax: (02) 9262 1084 • Email: heling@chinachamber.org.au

  21. 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/

  22. 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: liuxin@chinatrade.org.au