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Australia-China Business Week debuts in Sydney

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Following the success of ACBW in Melbourne over the past four years the business forum made its debut in Sydney this year. The high profile event hosted over 500 delegates from Australia and China and provided market insights to those hoping to engage in business with China. Consul General of the People’s Republic of China, Duan Jielong spoke at the ACBW 2012 luncheon and provided a focus on the Sino-Australian relationship. "China has become the largest trading partner, export market and import origin of Australia for many consecutive years," he said. "Last year, our bilateral trade in goods was registered over 110 billion US dollars, which grew 1000 times compared with that when we started our diplomatic relations," he added. Duan also responded to the media’s attention on the "slow-down" of China’s economy, suggesting the most notable reason for the economic slowdown is a result of voluntary macro-control by the Chinese government. "In our twelfth five year plan, the Chinese government voluntarily tuned down the GDP growth expectation, so that the Government has greater policy room to speed up the economic transition and restructuring, and shift focus from the speed to the quality of growth," he said. "By doing so, we try to direct China’s economic development toward a more environmental friendly and resource and energy efficient one," he added. He believes that positive factors are still accumulating in China’s economy and the nation’s economic growth has great structural potential. NSW Deputy Premier and Minister for Trade, Andrew Stoner launched the ACBW 2012 Sydney event. Having recently returned from a trip in China to promote NSWs trade and investment relationship, Stoner recognised that China is continuing to be an economic powerhouse of the Asia Pacific and the largest bilateral trading partner for NSW. The Australian China Business Week was an overall success and organisers plan to bring the event back to Sydney in August next year.

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