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Australia-China business engagement index points to favourable conditions - NAB

FXStreet (Delhi) - Research Team at NAB, notes that the just released Australia-China business engagement index report finds 94 per cent of Chinese businesses are favourable towards doing business with Australia.

Key Quotes

“Australia is ranked the most favourable country to conduct business by Chinese business leaders and business engagement between Australia and China is expected to increase over the next 12 months, a new report has found.”

“The first-ever report comparing attitudes of Chinese and Australian business leaders towards bilateral engagement was conducted by National Australia Bank and the Australia-China Relations Institute (ACRI) at the University of Technology Sydney. The report reveals 94 per cent of Chinese business leaders are favourable towards Australia, while 54 per cent of Australian firms are favourable about doing business with China.

Australia China Business Engagement Index: key findings

• 76% of Chinese companies cite the China-Australia Free Trade Agreement as playing some role in their decision to increase focus on Australia. The Australian assessment is more modest, with 35% of companies asserting some effect by the FTA.

• 50% of Australian firms engage with China while 90% of Chinese firms report some engagement with Australia.

• Both Australia and China expect to increase engagement over the next 12 months, led by product imports and exports of services and products on the Australian side and product exports and imports and service exports on the Chinese side.

• Both Australian and Chinese firms identify manufacturing and wholesale trade as focal points for further engagement.”

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