Australia’s Queensland welcomes greater business with China

SYDNEY (Xinhua) – The Australian State of Queensland is ready to do business with China and welcomes foreign investment, according to a media statement on the state government deputy premier Jackie Trad’s trade mission to China.

“Foreign investment is an enormous contributor to Queensland’s continued economic growth and employment, especially in regional areas,” Trad said in the statement. Her trade mission to Shanghai concluded yesterday.

“This is why we encourage Chinese investors to strengthen our commercial relationship and to explore the many avenues for greater partnerships between China companies and Queensland.”

Meeting with senior representatives from some of China’s major construction, infrastructure, energy, advanced manufacturing and technology businesses in Shanghai, Trad said, “the (state) government’s industrial priorities offer potential synergies with those in China, including the further advancement of renewable energy, resources and mining, tourism, and the health and aged care industries.”

With five offices in Shanghai, Beijing, Chengdu, Guangzhou and Hong Kong Special Administrative Region, Queensland’s strong relationship with China goes back over three decades.

“The bond between Queensland and China across all spectrums of our bilateral relationship is very important to the (Queensland) government, and China continues to be an important source of foreign direct investment into Queensland,” she said.

“The strength of our government-to-government engagement can be attributed to our Queensland-Shanghai Sister State relationship which is 30 years old.”

Hoping to develop the existing relationship even further by building new connections, Trad declared, “Queensland is open for business and we welcome Chinese business.”

In the financial year to 2018, Queensland’s merchandise exports to China were valued at AUD22.4 billion (USD15.17 billion) dollars, representing 21.3 per cent of Australia’s total merchandise exports to China.