What China’s Rebalancing means for Australia’s Future
The 2016-2026 Australia China Trade Report 2018/19 update
This report spans an outlook from 2016 – 2026. In Australia this is considered long-term, but in China, it is a relatively short period.
To ensure that the data remained topical and representative of the opportunity first presented, during 2017 and 2018, following President Xi Jinping’s expansive and definitive launch of China’s latest five-year plan, our firm thought it imperative to engage with various industry leaders and participants to see how they were managing China trade opportunities and challenges.
We conducted a series of Executive Boardroom discussions across Victoria, New South Wales, Queensland and Darwin focused on a variety of different industry sectors and learned that there were several themes connecting all industry sectors across these markets.
These themes included: the rise of digital influence, the importance of brand Australian in the China market in the context of assured quality and experience, the importance of Australia’s proximity and time zone to making doing business with China easier and the role media plays in supporting these opportunities.
Of key importance was how well regarded our capabilities in Occupational Health & Safety, quality and risk standards, training and education were and the flow on effect of these across all sectors.
Some of our attendees’ observed that from their perspective China wasn’t rebalancing, but rather progressively evolving. In addition it was felt that Australia’s media needed to take a more balanced commentary approach related to perceived threats to nationalism.
It was also acknowledged that we needed to upskill our language and capability, address basic infrastructure and underwhelming technological capability and that we need to provide overseas visitors with more bespoke experience offerings. It was noted that with the rise of the Chinese consumer through the expanded middle class, media is also consumed differently.
So the question will continue to remain for all organisations, how do we maximise the opportunity, improve our capability and address these challenges, while building on the momentum that a number of initiatives have afforded us?
This conversation is a market leader and while we all understand the value of trade, we have added in some pertinent fast fact data to capture some of the key investment flows into Australia from China. This is your key document to assist you as you consider the monumental impact that China’s Long Boom outlook provides.
For more information, please contact your ShineWing Australia representative.