Big business is hopeful the PM’s China visit will give them the predictability needed to invest in the world’s second-largest economy.
| Business urged Anthony Albanese to invite Xi Jinping to Australia when the leaders meet on Monday as companies shrug off concerns about China’s slowing growth to focus on opportunities from a reset in relations.
“For us, the relationships have remained very strong. The last three to four years was tough given COVID and not being able to meet customers face to face, but we have gone from strength to strength, signing many strategic partnerships with our customers.” Before leaving Shanghai, Mr Albanese and Trade Minister Don Farrell toured the Australian displays at the China International Import Expo in Shanghai, where they were mobbed. Mr Albanese brandished a lobster as part of the tour, and sampled Australian beef. Chinese restrictions on those two products still remain in place but are expected to be removed soon.
Andrew McKellar, the chief executive of the Australian Chamber of Commerce and Industry, said the visit was significant. “Seeing a restoration of the full economic ties is good for Australian exports, jobs and the economy,” he said.With China lifting most of the $20 billion of sanctions imposed on Australian exports such as wine and barley in 2020, business hopes the visit will also revive tourism between the two countries.
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