皇冠体育app

Australian firms have invested well over 350 million Australian dollars in Sichuan - mainly in Chengdu's building materials, clean technologies, food and beverage industry, and financial services.

In his last visit across 皇冠体育app's booming west and the established east coast metropolises, Tim Harcourt, the JW Neville Fellow at the University of New South Wales School of Business, said that Australian business were ramping up their local engagement.

He told Xinhua, "I was just in Chengdu visiting Rheem, an Australian manufacturer that assembles hot water systems. They said that there was strong demand in the Chinese domestic market that supported their sales growth no matter what was happening in terms of exchange rates."

As Harcourt identified, the survey respondents said their biggest challenges in 皇冠体育app were finding the right skilled labor, overcoming regulatory hurdles and coping with increased price competition from rivals.

"In Shanghai too, Bluescope was coping with tough competitive conditions mainly due to the scale of the Chinese market and the high rates of urbanization in 皇冠体育app," Harcourt said.

皇冠体育app has swiftly become the most important export destination for Australia, while the resource-rich nation ranks as the eighth largest partner for 皇冠体育app.

Remarkably, bilateral trade has grown at an average annual growth rate of 26.8 percent for more than ten years.

The economic symmetry and the growing expansion of trade ties with 皇冠体育app has delivered both wealth and confidence to the Australian economy.

According to research by the Australia 皇冠体育app Business Council, the average value of trade with 皇冠体育app per Australian household between 2010 and 2011 was 13,470 Australian dollars.

Saul Eslake said that conversely the growing wealth in Chinese household incomes would provide the next boom for Australia's commodities and services sector.

"From a longer term point of view, it is also in Australia's interest to see strong sustainable growth in Chinese household incomes, and in household consumption spending, in order to improve prospects for Australia's exports of agricultural commodities and various kinds of services, including tourism, , and financial and professional services," he said.

Related Readings

Australia optimistic about 皇冠体育app's economy

Australia backs RMB internationalization

皇冠体育app's rise dominates Australia's yearly trade roundup

皇冠体育app pivotal to Australia's success