Trade boost, security concern force China balancing act
Mr Albanese will leave for China on Saturday for a week-long tour across Beijing, Shanghai and Chengdu, accompanied by a delegation of Australian business leaders.
The prime minister will meet with President Xi Jinping, Premier Li Qiang and Chairman Zhao Leji to discuss global and regional issues as well as trade and tourism opportunities.
It's his second trip to China after his first in November 2023.
Australia and China have largely stabilised a tense relationship that culminated in billions of dollars worth of trade barriers against Australian products.
But issues of contention remain, including Chinese military forces performing dangerous actions towards Australian defence personnel and the continued imprisonment of Australian Yang Hengjun.
The writer was given a suspended death sentence after being charged with espionage offences, the basis of which was kept secret.
Australia has strongly denounced the sentence and called for his release.
"We will continue to patiently and deliberately work towards a stable relationship with China, with dialogue at its core," Mr Albanese said in a statement on Tuesday, but didn't mention the writer.
"I will raise issues that are important to Australians and the region."
Australia has repeatedly raised concerns about a lack of transparency over China's unprecedented military build up and denounced any security presence in the Pacific as Beijing courts influence with Pacific island nations.
Mr Albanese will travel with notable Australian business leaders to attend a roundtable with Chinese representatives from the business, tourism and sport industries.
The Business Council and China Development Bank will host the Australia-China CEO roundtable in Beijing.
Mr Albanese and Premier Li will attend, with the focus expected to be on green iron and metals, research and development, education, finance and clean energy technology.
The Australian business delegation includes the heads of major banks, mining companies, universities and insurance companies.
Business Council chief executive Bran Black said the private sector could help boost economic opportunities between Australia and China.
"It's a partnership that matters deeply to our nation's success," he said.
Prime Minister Anthony Albanese will need to delicately balance Australia's economic interests with security concerns as he prepares to travel to China.
Mr Albanese will leave for China on Saturday for a week-long tour across Beijing, Shanghai and Chengdu, accompanied by a delegation of Australian business leaders.
The prime minister will meet with President Xi Jinping, Premier Li Qiang and Chairman Zhao Leji to discuss global and regional issues as well as trade and tourism opportunities.
It's his second trip to China after his first in November 2023.
Australia and China have largely stabilised a tense relationship that culminated in billions of dollars worth of trade barriers against Australian products.
But issues of contention remain, including Chinese military forces performing dangerous actions towards Australian defence personnel and the continued imprisonment of Australian Yang Hengjun.
The writer was given a suspended death sentence after being charged with espionage offences, the basis of which was kept secret.
Australia has strongly denounced the sentence and called for his release.
"We will continue to patiently and deliberately work towards a stable relationship with China, with dialogue at its core," Mr Albanese said in a statement on Tuesday, but didn't mention the writer.
"I will raise issues that are important to Australians and the region."
Australia has repeatedly raised concerns about a lack of transparency over China's unprecedented military build up and denounced any security presence in the Pacific as Beijing courts influence with Pacific island nations.
Mr Albanese will travel with notable Australian business leaders to attend a roundtable with Chinese representatives from the business, tourism and sport industries.
The Business Council and China Development Bank will host the Australia-China CEO roundtable in Beijing.
Mr Albanese and Premier Li will attend, with the focus expected to be on green iron and metals, research and development, education, finance and clean energy technology.
The Australian business delegation includes the heads of major banks, mining companies, universities and insurance companies.
Business Council chief executive Bran Black said the private sector could help boost economic opportunities between Australia and China.
"It's a partnership that matters deeply to our nation's success," he said.
Prime Minister Anthony Albanese will need to delicately balance Australia's economic interests with security concerns as he prepares to travel to China.
Mr Albanese will leave for China on Saturday for a week-long tour across Beijing, Shanghai and Chengdu, accompanied by a delegation of Australian business leaders.
The prime minister will meet with President Xi Jinping, Premier Li Qiang and Chairman Zhao Leji to discuss global and regional issues as well as trade and tourism opportunities.
It's his second trip to China after his first in November 2023.
Australia and China have largely stabilised a tense relationship that culminated in billions of dollars worth of trade barriers against Australian products.
But issues of contention remain, including Chinese military forces performing dangerous actions towards Australian defence personnel and the continued imprisonment of Australian Yang Hengjun.
The writer was given a suspended death sentence after being charged with espionage offences, the basis of which was kept secret.
Australia has strongly denounced the sentence and called for his release.
"We will continue to patiently and deliberately work towards a stable relationship with China, with dialogue at its core," Mr Albanese said in a statement on Tuesday, but didn't mention the writer.
"I will raise issues that are important to Australians and the region."
Australia has repeatedly raised concerns about a lack of transparency over China's unprecedented military build up and denounced any security presence in the Pacific as Beijing courts influence with Pacific island nations.
Mr Albanese will travel with notable Australian business leaders to attend a roundtable with Chinese representatives from the business, tourism and sport industries.
The Business Council and China Development Bank will host the Australia-China CEO roundtable in Beijing.
Mr Albanese and Premier Li will attend, with the focus expected to be on green iron and metals, research and development, education, finance and clean energy technology.
The Australian business delegation includes the heads of major banks, mining companies, universities and insurance companies.
Business Council chief executive Bran Black said the private sector could help boost economic opportunities between Australia and China.
"It's a partnership that matters deeply to our nation's success," he said.
Prime Minister Anthony Albanese will need to delicately balance Australia's economic interests with security concerns as he prepares to travel to China.
Mr Albanese will leave for China on Saturday for a week-long tour across Beijing, Shanghai and Chengdu, accompanied by a delegation of Australian business leaders.
The prime minister will meet with President Xi Jinping, Premier Li Qiang and Chairman Zhao Leji to discuss global and regional issues as well as trade and tourism opportunities.
It's his second trip to China after his first in November 2023.
Australia and China have largely stabilised a tense relationship that culminated in billions of dollars worth of trade barriers against Australian products.
But issues of contention remain, including Chinese military forces performing dangerous actions towards Australian defence personnel and the continued imprisonment of Australian Yang Hengjun.
The writer was given a suspended death sentence after being charged with espionage offences, the basis of which was kept secret.
Australia has strongly denounced the sentence and called for his release.
"We will continue to patiently and deliberately work towards a stable relationship with China, with dialogue at its core," Mr Albanese said in a statement on Tuesday, but didn't mention the writer.
"I will raise issues that are important to Australians and the region."
Australia has repeatedly raised concerns about a lack of transparency over China's unprecedented military build up and denounced any security presence in the Pacific as Beijing courts influence with Pacific island nations.
Mr Albanese will travel with notable Australian business leaders to attend a roundtable with Chinese representatives from the business, tourism and sport industries.
The Business Council and China Development Bank will host the Australia-China CEO roundtable in Beijing.
Mr Albanese and Premier Li will attend, with the focus expected to be on green iron and metals, research and development, education, finance and clean energy technology.
The Australian business delegation includes the heads of major banks, mining companies, universities and insurance companies.
Business Council chief executive Bran Black said the private sector could help boost economic opportunities between Australia and China.
"It's a partnership that matters deeply to our nation's success," he said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
22 minutes ago
- News.com.au
Childcare to join $50m housing project linked to James Packer
A $50m affordable housing development linked to Australian billionaire businessman James Packer has put a call out for childcare operators to join a Geelong project. The planned childcare centre in the northern Geelong suburb of Corio is expected to attract significant interest from childcare operators looking to get a foothold in one of Australia's fastest growing regional cities. The centre is positioned in the heart of the Edenville residential estate being developed by Sivasli Group and will be located at 26-34 Sharland Rd which is at the entrance to the estate. Corio is expected to see a significant ramp-up in residential development. Global second-hand fashion fave eyes big entry to Geelong Melbourne developer Deniz Sivasli's Edenville group is behind the project, backed by a consortium that includes former casino mogul James Packer and investment guru Joe Gersh. Sivasli Group is also planning a 282-home residential estate on the former Flinders Peak Secondary College site in Hendy St, while Cedar Woods Properties has a 400-lot estate on the drawing board after a $35m purchase in January of an 18.6ha Plantation Rd property. The childcare development is designed by Architecton and will accommodate 124 childcare places and feature a bespoke fit-out for the incoming early learning provider across 1771sq m of building area. CBRE's Australian Healthcare and Social Infrastructure team of Sandro Peluso, Jimmy Tat and Marcello Caspani-Muto are managing the expressions of interest leasing campaign. Mr Tat said childcare centres located within residential estates tend to have outstanding occupancy rates because of increased visibility and accessibility for families. 'What truly sets Corio apart is the absence of other childcare development applications within the catchment area, making it a unique and highly attractive option for operators,' Mr Tat said. 'With over 1100 children expected to be born and move into the area over the next five years, we anticipate the demand-to-supply ratio will reach 4.3:1 – a level that is widely considered very favourable for operators.' Mr Peluso said opportunities to develop childcare centres within residential estates were rare. 'Given the highly favourable demographics and strong demand in Corio, the vendor has decided to pursue a childcare development,' Mr Peluso said. 'We expect significant interest from established local childcare providers as well as new entrants looking to break into the suburb, given the robust demand and limited competition in the area.' The Edenville estate, which will deliver 107 new homes on the site of the former Rosewall Primary School, had a difficult journey to approval at Victoria's planning umpire with Geelong's council labelling it a 'significant overdevelopment'. The expressions of interest lease campaign will close late July.
News.com.au
22 minutes ago
- News.com.au
Brickie's slick Herne Hill renovation doubles home's value in four years
A premium renovation that almost doubled the value of an original Herne Hill home has scored the suburb's most expensive sale of the year. Buyers from Newtown paid $1.4m for the transformed four-bedroom house at 5 Knight Ave. The quality of its contemporary rear extension and refit added $662,0000 to the value of the 714sq m property in four years. Geelong Real Estate Co. listing agent Ricky Forte said the front bedroom was the only thing he recognised from when he last sold the retro solid brick home for $738,000 in 2021. An open-plan living zone featuring high raked ceilings, timber floors and a sleek kitchen is the centrepiece of the redesign. 'They had done a really comprehensive, beautiful renovation,' Mr Forte said 'All the people that went through it were from Newtown, Geelong West, Manifold Heights … predominantly, as always, it was the Geelong people that were happy to fight and stretch.' He said three of the four parties that made offers on the house were considering renovating their existing homes but had been put off by construction costs that could amount to $800,000 for something similar. The buyers paid $50,000 above the top asking price to secure the property. 'I felt like nobody wanted to renovate and if you can get one that everything's been done then you just sign on the dotted line as opposed to 18 months of hell,' Mr Forte said. The vendors called on their family's construction experience to pull off the renovation – one is a bricklayer while the other's father is a builder. Recycled brickwork features in a new covered entertainment area overlooking the home's landscaped back garden. The renovation also replaced the dated 1970s brown kitchen, added a fourth bedroom and a stylish ensuite bathroom. The sale is the third million-dollar result in the street, just one block away from the Newtown border. Mr Forte said the same house in the 3220 postcode would set you back to close to $2m, which made the sister suburb an attractive value proposition. 'I think it has given a lot of people confidence that you could do a big renovation in Herne Hill and get your money back,' he said. He said another buyer who recently paid $705,000 for an older house at 18 Ashbourne St, Herne Hill, was among those who inspected the Knight Ave property for inspiration. 'He's pulling his apart and is going to build it to the Knight Ave level and now that's given him the confidence that renovating at that level that the money is there,' he said.
News.com.au
22 minutes ago
- News.com.au
ASX biotechs join global race for cell therapy breakthroughs
ASX biotechs target global cell therapy market, projected to reach ~US$48bn by 2034 Arovella the only ASX-listed biotech delving into CAR iNKT therapies and one of few globally Chimeric aims to 'break new ground' in treatment of solid tumours with CAR-T and NK cell assets Cell therapies represent a promising frontier in modern medicine, offering potential to treat, and in some cases cure diseases previously considered untreatable. By using living cells, either from the patient (autologous) or a donor (allogeneic), cell therapies aim to repair, replace, or enhance biological functions within the body. Originally pioneered for blood cancers through technologies like chimeric antigen receptor (CAR) T-cell therapies, the field is rapidly expanding into solid tumours, autoimmune conditions, and neurological diseases. Australia has close ties to CAR T-cell therapy development. Melbourne-based Cell Therapies Pty Ltd, the country's largest Therapeutic Goods Administration (TGA) licensed cell and gene therapy manufacturer, was the commercial production partner for Novartis's Kymriah – the first CAR T-cell therapy approved by the US Food and Drug Administration (FDA) in 2017. While the science remains complex, advances in manufacturing, engineering, and clinical design are making next-generation cell therapies more accessible and scalable, positioning them as a key pillar of future healthcare. Several ASX biotechs are positioning themselves at the forefront of cell therapies to capture a share of the global market, which accounted for ~US$6.04 billion in 2024 and is anticipated to close in on US$48bn by 2034, growing at a CAGR of almost 23%. In particular focus here is the treatment of solid tumours, which account for 90% of all cancers but have so far proven difficult to treat with cell therapies. Arovella in rare biotech club targeting CAR-iNKT therapies Arovella Therapeutics (ASX:ALA) is the only ASX-listed biotech delving into CAR Invariant Natural Killer T-cells (iNKT) therapies, and one of only a few globally. CEO Dr Michael Baker told Stockhead iNKT cells were distinct from the more familiar natural killer, or NK cells, which along with T-cells had limitations. T-cells can't be used off-the-shelf unless they are genetically engineered. While NK cells can quickly eliminate abnormal cells such as tumour cells, iNKT cells go further. Not only do they kill like T and NK cells, but they also trigger a longer-lasting response by activating other key parts of the immune system. Because iNKT cells recognise foreign threats differently – unlike classic CAR-T cells – it has been shown in clinical trials that iNKT cells do not cause complications like graft-versus-host disease (GvHD) when administered from a healthy donor to a patient. The FDA has approved seven CAR-T therapies to date, all for blood cancers, but no iNKT treatments. While over 120 global trials are investigating CAR-NK therapies for blood and solid tumours, CAR iNKT research remains limited. Baker said most cell therapies use the patient's own cells (autologous), but this was costly, slow, and relies on compromised cells. Arovella is taking an allogeneic approach, using healthy donor cells to create off-the-shelf, frozen doses shipped to clinics as needed in a 'ready-to-use' model. Its lead therapeutic ALA-101 combines iNKT cells with a CAR that targets CD19, a protein commonly found on B-cell blood cancers like lymphoma and leukaemia. One of Arovella's next key milestones is to apply to the FDA for its first-in-human trial, enrolling non-Hodgkin's lymphoma and leukaemia patients. The company's other key goal is also tackling solid tumours. "The first approved blood cancer targeting CAR-T products have demonstrated just how important cell therapies will be for cancer treatment," Baker said. "We look forward to using our CAR-iNKT cell platform to expand upon that work and aim to create products capable of increasing access and reducing costs. "There is a lot of great science that will continue to advance the off-the-shelf cell therapy sector. "That is why we continue to scour the globe for new IP to build into our CAR-iNKT platform, to either strengthen our CAR-iNKT cells or to broaden the cancer types that we can target.' Imugene also aims to crack solid tumours Imugene (ASX:IMU) is developing cell-based immunotherapies, including allogeneic CAR T-cell therapies, oncolytic viruses and B-cell vaccines, to address both blood cancers and solid tumours. The company's lead cell therapy candidate azercabtagene zapreleucel (azer-cel) is an off-the-shelf CAR T-cell therapy targeting CD19, a protein commonly expressed on malignant B-cells. There are no allogeneic (off the shelf) CAR T therapies approved to date. Azer-cel is currently undergoing clinical trials for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL), a hard-to-treat form of non-Hodgkin's lymphoma. In early-phase studies, azer-cel has demonstrated promising results, including high complete response rates and durable remissions in patients who have previously relapsed after autologous CAR T-cell therapies. "We are very pleased with the continued positive data coming from the azer-cel trial, which further reinforces its potential as a treatment for lymphoma patients who have failed on several previous therapies including auto CAR T," CEO and managing director Leslie Chong told Stockhead. Imugene's next-generation cell therapy platform OnCARlytics is designed to help overcome one of the biggest challenges in cancer treatment, making solid tumours visible to the immune system. The approach combines Imugene's proprietary CF33 oncolytic virus, which selectively infects and destroys cancer cells, with CD19-targeting CAR T-cells. The CF33 infects tumour cells and forces them to express CD19, a marker typically found on blood cancer cells but absent on solid tumours. By introducing CD19 into the tumour environment, the therapy effectively tags the cancer, allowing CD19-specific CAR T-cells to recognise and attack the tumour. Imugene's pipeline also includes multiple immunotherapy B-cell vaccine candidates, which involve inducing the body to produce polyclonal antibodies against specific tumour-associated antigens. The company's PD1-Vaxx is designed to generate antibodies that block the PD-1 receptor, potentially mimicking the effects of checkpoint inhibitors such as pembrolizumab (Keytruda). The company recently announced the first patient had been dosed in Australia as part of an investigator-sponsored Phase II Neo-POLEM clinical trial, which is evaluating PD1-Vaxx's potential to improve treatment outcomes for patients with mismatch repair-deficient/microsatellite instability-high (dMMR/MSI-high) colorectal cancer. This aggressive cancer subtype accounts for ~15% of all colorectal cancer cases. Chimeric advances cell therapy assets in solid tumours Chimeric Therapeutics (ASX:CHM) has three CAR T and NK cell assets in clinical trials. It has an ongoing phase 1/2 clinical trial for its novel CHM CDH17 CAR T-cell therapy targeting advanced colorectal cancer and Neuroendocrine tumours of the midgut. Their second program CHM CLTX CAR T is in a phase 1B clinical trial in recurrent/progressive glioblastoma, a form of brain cancer. CHM CORE-NK is a potentially best-in-class, clinically validated NK cell platform. Data from the complete phase 1A clinical trial, demonstrated safety and efficacy in blood cancers and solid tumours. Two additional Phase 1B clinical trials investigating CHM CORE-NK in combination regimens have been initiated in Acute Myeloid Leukemia (AML). "We're excited to be actively advancing in the clinic and pushing through dose levels as we break new ground in the solid tumour CAR T-cell therapy space," CEO Dr Rebecca McQualter told Stockhead. Prescient advancing cell therapy platforms While predominately focused on PTX-100, its first-in-class compound with the ability to block an important cancer growth enzyme geranylgeranyl transferase-1 (GGT-1), Prescient Therapeutics (ASX:PTX) is also advancing its proprietary OmniCAR and CellPryme platforms. OmniCar has potential to allow CAR T therapy cells to be more targeted, safer, more effective, cost-effective and of longer duration. CellPryme is a complementary application to OmniCar split into two components. CellPryme-M produces superior cells that are more potent and last longer, aiming to double tumour control. Meanwhile, CellPryme-A acts as an adjuvant therapy, increasing the expansion of CAR T-cells and enhancing their ability to penetrate the tumour. AdAlta adopts East to West cellular immunotherapy strategy AdAlta (ASX:1AD) and venture capital firm SYNthesis BioVentures Fund (SYNBV) launched AdCella in 2024 to adopt an East to West strategy and bring cutting-edge cellular immunotherapies from Asia, particularly China, into Western markets. SYNBV was co-founded by Professor Andrew Wilks, who alongside Amplia (ASX:ATX) CEO Dr Chris Burns received the 2024 Prime Minister's Prize for Innovation for co-inventing momelotinib, an FDA-approved treatment for myelofibrosis. The strategy leverages AdAlta managing director and CEO Dr Tim Oldham's deep expertise in cellular immunotherapies and extensive operational experience in Asia to identify and advance promising Asian cellular therapies that can be transitioned into regulated western markets. Oldham was previously CEO of Cell Therapies and said he'd been fortunate to witness firsthand the rapid evolution of China's biotech sector and remarkable progress in cellular immunotherapies for cancer treatment over the past 15 years. The East to West cellular immunotherapy strategy for cancer is now a core growth priority for AdAlta and a key driver of future pipeline growth and value creation.
