The ACBRI is the first report comparing the attitudes and perspectives of over 1,000 Chinese and 580 Australian business leaders toward bilateral engagement. Interestingly, 94% of Chinese business leaders are keen to engage with Australian businesses, while just 54% of Australian firms are ready to do business with China. The report ranks Australia as the most favoured country to conduct business with by Chinese business leaders, with a likely increased in engagement over the next 12 months.
Key sectors anticipating increases in both exports and imports include agriculture, forestry, fishing, manufacturing and wholesale sectors. But the opportunity is not limited to these types of exports alone, and we should be looking at the expanding opportunities in service industries for the growing Chinese middle class and ageing population.
A summary of the report may be downloaded here
The NAB Asia Hub also provides valuable information on doing business with China – www.nab.com.au/businessasia