A growing Chinese market is providing ample room for Australian products like milk, beef, and wool. Australian Chamber of Commerce's chairman, Craig Aldous, sees sustained interests from Australian businesses in China International Import Expo (CIIE) this year.
He expects more chances and cooperation in terms of medical devices and equipment companies, health care providers, and professional services during the upcoming CIIE this year.
"We've seen increased interest in the food and beverage, agriculture sector. And we are seeing more interest in medical device and equipment companies, health care providers, and professional services," he said.
More than 200 Australian companies participated in the inaugural CIIE last year. And this year, there are around 220 brands across 140 Australian companies that are being represented in the same location in Shanghai, based on Aldous' words.
Aldous is looking forward to Australian companies' performance this year, saying that "Australia has a very clear advantage in terms of the quality of its produce, and the expertise in terms of the strain companies exporting those products." And he also views the second CIIE as not only a chance to "reconnect" with partners but also the opportunity to find new partners, new distributors.
Given that trade volume between China and Australia is still enjoying double-digit growth, the chairman believes that most Australian companies "that understand China or have been doing business here" know the growth story is going to continue in China.
"Regardless of what growth rates are going to look like, there's a lot of confidence from Australian companies to continue to do business with China, but more than that to continue to invest and grow their relationships and grow their business," Aldous told CGTN.
He also highlights performance in cross border e-commerce, forecasting more companies to further invest in that area.
"A lot of companies have played around with cross border e-commerce to get a little bit of a feel for what's happening in the market. They've seen that the sales of their products have grown, and then at that point, they start looking at how they can get deeper into the market. So I think the success that you've seen from cross border e-commerce in particular over the past four or five years will lead to more companies taking the next step in investing on the ground," Aldous observed.
(Timothy Pope also contributed to the story)