Page 1367 - Week 05 - Tuesday, 3 May 2016
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Australia Week in China was delivered across numerous Chinese cities between 11 and 15 April. Led by the federal Minister for Trade and Investment, Steven Ciobo MP, the week attracted a high level of federal, state and territory ministerial participation and comprised around 1,000 delegates. Thirty ACT businesses participated in various streams of the week, showcasing the best of the Canberra region to China.
With more than $150 billion in annual two-way trade, China is now Australia’s number one export market, our largest source of international students, our most valuable tourism market, our fastest growing source of foreign direct investment and our largest agricultural goods market. The International Monetary Fund predicts China will grow by 6.3 per cent in 2016, which is almost double the latest global growth projections of 3.2 per cent.
To put this in perspective, and to quote the Hon John Brumby, the National President and Chairman of the Australia China Business Council, during his opening remarks at Australia Week in China:
6.5 per cent growth means around $US700 billion of new growth per year. To put it another way, China is creating a new economy the size of New Zealand’s every 90-100 days.
A new economy the size of New Zealand’s every 90 to 100 days. Madam Speaker, opportunities to attract Chinese travellers to Canberra via Singapore were on my agenda during the visit to Shanghai. My China program included meetings with the Chairman of China Eastern Airlines, Mr Liu Shaoyong. The meeting was attended by the Hon Richard Colbeck, the federal Minister for Tourism and International Education, along with the Queensland Premier, Annastacia Palaszczuk.
The meeting was an opportunity to seek China Eastern’s views on plans to expand its Australian operations and to establish networks with senior China Eastern officials to assist future engagement regarding the opportunities that Canberra presents for direct services into our city. China Eastern is based in Shanghai. It carries over 65 million travellers annually and ranks in the world’s top 10 airlines in terms of passenger volumes. China Eastern is growing its international routes to diversify intensifying competition within the Chinese domestic aviation market and the growth of the country’s domestic high-speed rail.
Madam Speaker, China Eastern currently operates services from Shanghai to Brisbane and Cairns during the Chinese New Year peak season and to Sydney and Melbourne, as well as a service between Nanjing and Sydney three times per week through its strategic alliance with Qantas. In June 2015 Tourism Australia signed a new, extended three-year MOU with China Eastern where both parties will invest up to $11.5 million over the life of the arrangement.
Madam Speaker, China remains the ACT’s largest international market for tourism. For the year ended December 2015 the ACT recorded a 12.1 per cent increase in Chinese visitors over the previous year. With these facts well in mind, during my
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