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) enables Queensland businesses to benefit from agreed tariff reductions when exporting products to China, including:
- agriculture and processed food
- manufactured products
The implementation of the China-Australia Free Trade Agreement (ChAFTA) is stimulating Chinese investment in a number of strategic industries, including agribusiness, commercial and tourism properties, and high-tech industries.
China is shifting its economic model from ‘quantity growth’ to ‘quality development’ and Chinese companies are increasingly investing in sectors beyond resource extraction.
This combined with the continuing growth of personal incomes and number of educated people will see China’s services sector become increasingly important with opportunities presenting in:
- niche food products
- renewable energy
With a focus on food security and internationalisation, China’s expected US$1.25 trillion in outward direct investment over the next decade makes 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
- Resources and energy
- Research and development collaboration
- Incubator and creative technology
- Sustainable urban development
- Sustainable design
- Financial services
- Advanced manufacturing