Business must remain focused on the positive aspects of the Australia – China relationship
While the development of the Australia–China relationship over the past two decades has delivered undoubted benefits to the Australian economy, today, more than ever, businesses are keen to understand how they can tap into this market.
This was the observation of ShineWing Australia’s Managing Partner, Mr Danny Armstrong, at today’s Australia China Business Council (ACBC) Canberra Networking Day, of which the firm is a new national partner and event sponsor for today.
Mr Armstrong noted that while trade and investment between the two countries remained strong, he echoed the sentiments of ACBC National President, the Hon, John Brumby AO, that many commentators and analysts all too often underestimate the growth and sheer dynamism of the Chinese economy – as well as the huge benefits of this to the Australian economy and our living standards.
ShineWing Partner, John Paolacci and Malcom Turnbull at Canberra Networking Day
Mr Brumby quite rightly points out if we look at the $183 billion of two-way trade between our countries as a great achievement, that has undoubtedly lifted Australian household incomes and living standards and helped build some great Australian companies, then this really is only the beginning.
“Having lived in Shanghai for five and a half years and working to set up a big Australian bank, I am confident that business can continue to lead the way in cultivating strong, mutually respectful bonds between our two countries.
“There are extraordinary opportunities for Australian exporters as well as service providers by deepening our connections through trade and investment. However, we must understand the way in which we can do business together and China can be tricky to navigate if you don’t have the right partner or experience,” he said.
Mr Armstrong noted there are many areas where China is actively looking to form long term partnerships to help them continue to develop and transform their economy. For example, like Australia, China is facing increasing pressures from an aging population, with a predicted 248 million Chinese over the age of 60 by 2020.
“While the Chinese Government has embarked on an ambitious program to transform its aged care industry, the sector is still in its infancy.
“Policies have been put in place to actively attract investment and encourage the adoption of best practice services and infrastructure to meet the goals of providing 35 to 40 care beds per thousand elderly citizens, and a workforce of 10 million aged care workers by 2020.
“As our partner and Aged Care Leader John Paolacci stated on the panel session today, this represents enormous opportunities for Australian companies to take their expertise and learnings to China and, in the process, help deliver strong and more positive relationships between our two countries,” he said.
2018 Canberra Networking Day – Julia Bischop
The ShineWing delegation
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