The Australia-China Business Forum, co-hosted by the China Council for the Promotion of International Trade (CCPIT) and the Australia-China Business Council (ACBC), took place in Sydney, Australia on April 15.

CCPIT Chairman Ren Hongbin attended and addressed the forum, leading a delegation of Chinese business representatives. Attendees included Margaret Beazley, Governor of New South Wales, Wang Chunsheng, Acting Consul General of the Chinese Consulate General in Sydney, David Olsson, President and Board Chair of ACBC, and Tom Parker, National CEO of ACBC, and over 200 representatives from the Chinese and Australian business communities.

Ren Hongbin stated that under the strategic guidance of Chinese President Xi Jinping and Australian Prime Minister Anthony Albanese since last year, China-Australia relations have taken off again, achieving stability and progress in bilateral relations, and making significant strides in bilateral economic and trade cooperation. In 2023, bilateral trade in goods grew by 4.1 percent compared to the previous year, with China remaining Australia’s largest trading partner for the 15th consecutive year. The number of new Australian-invested enterprises in China increased by 40.2 percent compared to 2022. This year marks the 10th anniversary of the establishment of the comprehensive strategic partnership between China and Australia. Looking ahead, Ren said that there is substantial potential for future China-Australia economic cooperation. He introduced China’s efforts to promote high-quality development and high-standard opening up, and proposed four recommendations to strengthen trade and investment, boost mutual investment, enhance supply chain cooperation, and foster regional cooperation. He expressed the hope that the business communities of the two countries would work together to enhance communication, explore opportunities for cooperation, and elevate China-Australia economic and trade cooperation to a new level.

Wang Chunsheng expressed that the economies of China and Australia are highly complementary and enjoy huge potential. The Australian state of New South Wales has been at the forefront of China-Australia interactions. Wang hoped both Chinese and Australian business communities would deepen cooperation in the fields of trade and investment, injecting positive energy into the development of China-Australia relations.

Margaret Beazley noted that China has long been New South Wales’ largest two-way trade partner. It is hoped that both sides can continue deepening and expanding friendly cooperation across multiple fields based on the principle of mutual respect and friendship.

David Olsson stated that ACBC and CCPIT have had a long-standing friendly partnership, and he looks forward to further strengthening communication and helping the business communities of both countries expand cooperation in innovation and the green economy.

During the forum, the China International Exhibition Center Group Limited signed letters of intent for the second China International Supply Chain Expo with four Australian companies. The China International Economic and Trade Arbitration Commission signed a cooperation agreement with the Australian Centre for International Commercial Arbitration. CCPIT Guizhou and Hainan sub-councils signed memoranda of understanding with ACBC New South Wales Branch.

The Chinese delegation visiting Australia consisted of around 100 people, including responsible persons of local and industry CCPIT sub-councils and representatives from sectors such as agriculture, energy, and smart manufacturing. It was the largest Chinese business delegation visiting Australia in recent years.