China is Queensland’s largest trading partner and growing to be a major investor in the State.
Predicted to become the world’s largest economy in the near future, China’s growing middle class and proximity to Queensland offer significant opportunities for Queensland companies.
The China-Australia Free Trade Agreement (ChAFTA) will ensure that Queensland businesses will benefit from agreed tariff reductions when exporting products to China, including:
- agriculture and processed food,
- and manufactured products.
The implementation of the China-Australia Free Trade Agreement (ChAFTA) will stimulate Chinese investment in a number of strategic industries including:
- commercial/tourism properties
- and hi-tech industries
China will shift its economic model from ‘quantity growth’ to ‘quality development’ and Chinese companies will invest in sectors beyond resource extraction.
This plus the continuing growth of personal income and educated population will see China’s services sector become increasingly important with opportunities presenting in:
- niche food products
- and renewable energy.
With a focus on food security and internationalisation, China’s US$1.25 trillion in outward direct investment expected over the next decade make it a target for investment attraction across a range of sectors.
- Food and agribusiness
- Education and VET
- Direct Investment for agribusiness and tourism facilities
- Lifestyle products (food and services)
- Aged care and health care
- Renewable energy
- R&D collaboration
- Incubator and creative technology
- Sustainable urban development
- Sustainable design
- Advance healthcare
- Financial services
- Advanced manufacturing
- Resources and energy