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Business/Finance See other Business/Finance Articles Title: Remarks by HE Ambassador Ma Zhaoxu at the Launching Ceremony of How to Invest in Australia It gives me great pleasure to launch the new book How to Invest in Australia and celebrate completion of this year-long project involving the Chinese Embassy and General Consulates in Australia, Australia-China Business Council, Chinese Chamber of Commerce in Australia and many Australian financial institutions, accounting, law and consulting companies. The purpose of this book is to provide Chinese investors with comprehensive information in relation to local rules and regulation, industrial overview, investment environment and corporate social responsibility, etc. It also includes some case studies which might be useful for Chinese investors in Australia. With this in mind, I would like, on behalf of the Chinese Embassy, to extend sincere congratulations and appreciation to all the Australian government agencies, industrial associations, Chinese and Australian businesses and experts who have participated in the compilation and publication of the book. The book also comes out against the backdrop of a strong momentum of China-Australia relations, which is characterized by mutually beneficial economic cooperation. Trade and investment, like two wings, have propelled the growth of China-Australia business cooperation. China has now become Australia's largest trading partner, largest export market, largest source of import, largest export market for service trade and largest source of surplus. Chinese investment in Australia has been growing fast and become a new highlight of bilateral business cooperation. Australia is the second most popular destination for Chinese investments overseas and attracted over AUD60 billion Chinese investments from 2005 to 2013, accounting for around 12% of overall Chinese investments overseas. Based on Australian statistics, over AUD100 billion Chinese investments have been approved by Australian authorities in the last decade. China is the sixth largest source of foreign investment for Australia. China's outbound investment will reach USD500 billion in the coming 5 years. The ANZ Bank predicts that Chinese investment in Australia will increase by 10 folds to AUD200 billion by 2030. It means numerous opportunities for Australia. As two highly complementary economies, China and Australia enjoy advantages and big potential for investment cooperation in infrastructure, agriculture, finance, IT, manufacturing, and energy conservation and so on. China-Australia FTA negotiations are close to conclusion and the FTA is estimated to generate AUD20 billion worth of revenue for Australia and add another AUD600 million to its agricultural export to China each year. I would like to take this opportunity to pay tribute to the Chinese entrepreneurs here for their hard work and remarkable achievements in Australia. I hope you could continue to be enterprising and innovative and deliver greater benefits to the two peoples. President Xi Jinping is coming to Australia for the Brisbane G20 Summit and a broader bilateral visit. As the first state visit by a Chinese president in 7 years, President Xi's trip will become a new milestone in our relations and give new impetus to Chinese investment to Australia which will benefit both our business communities. Finally, I sincerely hope that this book can open a new window for Chinese investors and Australian business community to enhance mutual understanding and reap greater benefits from their cooperation. Post Comment Private Reply Ignore Thread
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