Latest news with #AustraliaChinaBusinessCouncil
Bloomberg
16-07-2025
- Business
- Bloomberg
ACBC President on Australia-China Business Relations
David Olsson, National President at the Australia China Business Council, discusses the outlook for Australia and China's business relations as Prime Minister Anthony Albanese aims to maintain steady ties with his country's top trading partner. He speaks with Haidi Stroud-Watts and Paul Allen on "Bloomberg: The Asia Trade." (Source: Bloomberg)
Asia News Network
15-07-2025
- Business
- Asia News Network
Australian PM Albanese's visit reflects close China-Australia economic links
July 15, 2025 SYDNEY – Australian Prime Minister Anthony Albanese's weeklong official visit to China reflects the close economic relationship between the two countries and offers opportunities for greater cooperation in growing sectors amid global challenges, according to Australian analysts. Other than high-level meetings in Beijing, the itinerary includes trips to Shanghai, where Albanese arrived on Saturday, and Chengdu, the capital of Sichuan province. The visit covers business, investment, tourism and other major sectors to build on Australia's strong economic and trade links with China, according to a statement from the prime minister's office. James Laurenceson, director of the Australia-China Relations Institute at the University of Technology Sydney, said a leader's visit 'positively impacts the bilateral relationship because it shows confidence and commitment at the highest political level'. 'Businesses engaged in the Australia-China economic corridor report that they have benefited from the stabilization in Australia-China relations since 2022,' he said, adding that amid rising geopolitical tensions globally, Sino-Australian ties hold greater significance. 'Both Australia and China have enormous, shared interests around trade,' Laurenceson said. 'Climate change and clean energy transition … will expectedly get a lot of coverage given the two countries' shared interests.' David Olsson, president and chairman of the Australia China Business Council, said the visit by Albanese 'matters because it signals intent'. 'When political leaders are prepared to meet and listen, it creates space for business to step forward. This is especially important in a climate where geopolitical risks and economic uncertainty weigh on investment decisions,' he said. Olsson said that trade 'has always been a foundation of the Australia-China relationship, and both sides understand its strategic importance'. 'The global economic environment is shifting toward decarbonization, digitalization and regional integration, and these trends are reshaping trade patterns. Australia and China each have strengths to contribute in this transition,' he said. But it is not just about goods and services, Olsson stressed. 'Sustained trade relationships are underpinned by people. We're seeing renewed energy in areas like education, tourism, sports and the arts, all of which help rebuild trust and understanding. That broader engagement adds depth to the economic relationship and supports a more resilient partnership,' he said. 'We'll be paying close attention to areas that signal long-term cooperation, particularly in green energy, food and agribusiness, education and professional services, and sustainable infrastructure. These align with where our members see opportunity, and where Australian expertise matches China's evolving needs,' Olsson added. Hans Hendrischke, a professor of Chinese business and management at the University of Sydney Business School, said that Albanese's weeklong itinerary is 'twice as long as a regular state visit for good reasons'. 'For both sides, direct personal contact between their political and business leaders is essential to maintain stable economic relations,' he said. Hendrischke, who also chairs the business and economics cluster of the university's China Studies Centre, said the cities of Shanghai, Beijing and Chengdu represent Albanese's trade, government and investment agendas. 'In trade, Australian iron ore and resources exports to China provide the ballast to the bilateral economic relationship, but potentially face the risk of becoming bargaining chips in international geostrategic competition. In this situation, both sides need to reassure each other at the highest level of their commitment to unimpeded trade and investment,' he said. Hendrischke said that Chengdu is the likely place where Albanese will be shown 'the latest results of State-planned industrial policy that could be proactively applied to support cooperation between Australian and Chinese companies, similar to the way international investment has contributed to the growth of new greenfield industries' around the provincial capital. Referring to the China-Australia Free Trade Agreement, which marks its 10th anniversary this year, Hendrischke said that China's calls for integrating artificial intelligence and foreign direct investment in a revised agreement would also 'open the way for Australia to direct Chinese investment into areas of national benefit such as renewable energy, agribusiness and high-tech services'. Laurenceson, from the Australia-China Relations Institute, said there will be plenty of areas where both sides can explore greater cooperation under the framework of the free trade agreement, such as the mutual recognition of skill qualifications and product and service standards. Olsson, from the Australia China Business Council, said that Albanese's visit, which includes a CEO roundtable for Australian and Chinese business leaders to strengthen trade and investment, is 'another opportunity to demonstrate that commitment can reinforce the value of practical, respectful engagement between our two countries'.
West Australian
09-07-2025
- Business
- West Australian
Australian news and politics live: Business leaders cautious as PM prepares for China, new tariffs released
Scroll down for the latest news and updates. US President Donald Trump has sent letters to the leaders of seven additional countries, warning of new tariff rates as high as 30 per cent on goods shipped to the United States. The latest recipients include the Philippines, Sri Lanka, Moldova, Brunei, Algeria, Libya, and Iraq, with new tariffs set to take effect August 1 unless trade deals are reached. Australia continues to face a 10 per cent baseline tariff on most exports to the US, which Prime Minister Anthony Albanese recently said is likely to remain in place. The White House letter to Brazil's President Lula da Silva sharply criticised the trial of former President Jair Bolsonaro, calling it a 'witch hunt' and an 'international disgrace.' Read the full story here. Australian business groups are 'cautiously optimistic' a visit to China by Anthony Albanese will help normalise a fragile relationship with Beijing. The Prime Minister will travel to China on Saturday for a six-day visit of Beijing, Shanghai and Chengdu, where he will be accompanied by a delegation of Australian business leaders. Australia China Business Council president David Olsson said the relationship between the two nations has had an 'incomplete recovery' with a changing market in China. 'While everyone's cautiously optimistic, I think we all recognise that the relationship remains somewhat fragile, and that's why these regular government to government dialogues is just so important,' he told AAP. Read more.
The Guardian
09-07-2025
- Business
- The Guardian
Australia news live: Albanese to announce antisemitism measures; Sydney's Australian Turf Club chair resigns
Update: Date: 2025-07-09T20:32:51.000Z Title: Content: Australian business groups are 'cautiously optimistic' a visit to China by Anthony Albanese will help normalise a fragile relationship with Beijing. The prime minister will travel to China on Saturday for a six-day visit of Beijing, Shanghai and Chengdu, where he will be accompanied by a delegation of Australian business leaders. Australia China Business Council president David Olsson said the relationship between the two nations has had an 'incomplete recovery' with a changing market in China. 'While everyone's cautiously optimistic, I think we all recognise that the relationship remains somewhat fragile, and that's why these regular government to government dialogues is just so important,' he said. We have to stop seeing risk and opportunity as opposites and the challenge for Australia generally, is to engage with China in a way that's both commercially smart and politically durable. 'We need to keep this relationship going. So we have to sit back and think very carefully about how we're going to manage the risks that we see in the world at the moment in a way that serves our national interests. Albanese will meet with Chinese President Xi Jinping, Premier Li Qiang and Chairman Zhao Leji to discuss global and regional issues in addition to trade and tourism opportunities. Update: Date: 2025-07-09T20:32:51.000Z Title: Chair of Australian Turf Clubs resigns after failed Rosehill Racecourse sale Content: The chair of Sydney's Australian Turf Club has resigned after failing in his bid to sell off the Rosehill Racecourse for 25,000 new homes. Peter McGauran was appointed chair of the board in August 2022, with his term due to expire in early next year. He also serves as a senior advisor at advisory and investment firm, Bondi Partners. The New South Wales government had offered $5bn for the privately owned racecourse, which would have made a significant contribution towards its target of 337,000 new dwellings by 2029. But in May, it was soundly rejected by 7,860 ATC members who voted 56% to 44% against the sale. The premier, Chris Minns, said history would look back on McGauran 'as someone who wasn't afraid to take bold ideas to the table'. Peter had a big vision for Sydney and Rosehill and I'll always respect him for that. We'd love him to stay on, but Peter has elected to pass on the baton. He's been a gentleman throughout – even in the face of tough debates – and always acted with integrity. We need more people bowling up ideas and trying to get things done for the city, not less. I thank him for his service and wish him all the best for what comes next. Update: Date: 2025-07-09T20:32:51.000Z Title: - AAP Content: Laurie Daley feels he is 'most definitely' the right man to coach NSW in 2026 as the playing group insists the coach cannot be blamed for the Blues' State of Origin capitulation. While I was disappointed with the result, I think the players have had a really good campaign, we just didn't nail the moments. We've got to make sure we're better at that. I don't see any reason why that group can't (win it next year) ... no issues there, mate. The playing group rushed to Daley's defence after the loss. 'He wasn't the reason that we lost tonight. It was us as players,' said halfback Nathan Cleary. The 2025 Origin series slipped through the Blues' fingers on Wednesday night as a polished Queensland dominated their hosts for a 24-12 win at Accor Stadium. Catch up on the game with this report from the Guardian's Jack Snape: Update: Date: 2025-07-09T20:32:51.000Z Title: Welcome Content: Good morning and welcome to our live news blog. I'm Martin Farrer with the main talking points so far before Rafqa Touma steps up. Anthony Albanese is expected to front the media in Sydney later this morning along with his special envoy on antisemitism, Jillian Segal, to launch the government's new crackdown in the wake of a series of attacks on synagogues, Jewish schools and Jewish-owned businesses. We have more coming up. The chairman of Sydney's Australian Turf Club has resigned after his master plan to sell the Rosehill Racecourse to the NSW government for the building of 25,000 new homes was rejected by the club's members.
The Advertiser
09-07-2025
- Business
- The Advertiser
Business leaders cautious as PM prepares for China trip
Australian business groups are "cautiously optimistic" a visit to China by Anthony Albanese will help normalise a fragile relationship with Beijing. The prime minister will travel to China on Saturday for a six-day visit of Beijing, Shanghai and Chengdu, where he will be accompanied by a delegation of Australian business leaders. Australia China Business Council president David Olsson said the relationship between the two nations has had an "incomplete recovery" with a changing market in China. "While everyone's cautiously optimistic, I think we all recognise that the relationship remains somewhat fragile, and that's why these regular government to government dialogues is just so important," he told AAP. "We have to stop seeing risk and opportunity as opposites and the challenge for Australia generally, is to engage with China in a way that's both commercially smart and politically durable. "We need to keep this relationship going. So we have to sit back and think very carefully about how we're going to manage the risks that we see in the world at the moment in a way that serves our national interests." Mr Albanese will meet with Chinese President Xi Jinping, Premier Li Qiang and Chairman Zhao Leji to discuss global and regional issues in addition to trade and tourism opportunities. It will be his second sit down with President Xi in China after his first visit in November 2023. The stabilisation in the relationship with Beijing led to a removal of about $20 billion worth of trade sanctions on Australian products after diplomatic relations hit a low during the COVID-19 pandemic under the former Morrison government. Australian National University associate professor Graeme Smith said both governments would be seeking mutual assurances from each other on trade relations in the context of Donald Trump's trade war. "They'll be looking for possible new markets for Australian goods because the US is not seen as terribly reliable anymore," he told AAP. Dr Smith said he expected Australia to raise the lack of notification given by China when their military conducted military drills earlier this year during a circumnavigation of the country. Australian business groups are "cautiously optimistic" a visit to China by Anthony Albanese will help normalise a fragile relationship with Beijing. The prime minister will travel to China on Saturday for a six-day visit of Beijing, Shanghai and Chengdu, where he will be accompanied by a delegation of Australian business leaders. Australia China Business Council president David Olsson said the relationship between the two nations has had an "incomplete recovery" with a changing market in China. "While everyone's cautiously optimistic, I think we all recognise that the relationship remains somewhat fragile, and that's why these regular government to government dialogues is just so important," he told AAP. "We have to stop seeing risk and opportunity as opposites and the challenge for Australia generally, is to engage with China in a way that's both commercially smart and politically durable. "We need to keep this relationship going. So we have to sit back and think very carefully about how we're going to manage the risks that we see in the world at the moment in a way that serves our national interests." Mr Albanese will meet with Chinese President Xi Jinping, Premier Li Qiang and Chairman Zhao Leji to discuss global and regional issues in addition to trade and tourism opportunities. It will be his second sit down with President Xi in China after his first visit in November 2023. The stabilisation in the relationship with Beijing led to a removal of about $20 billion worth of trade sanctions on Australian products after diplomatic relations hit a low during the COVID-19 pandemic under the former Morrison government. Australian National University associate professor Graeme Smith said both governments would be seeking mutual assurances from each other on trade relations in the context of Donald Trump's trade war. "They'll be looking for possible new markets for Australian goods because the US is not seen as terribly reliable anymore," he told AAP. Dr Smith said he expected Australia to raise the lack of notification given by China when their military conducted military drills earlier this year during a circumnavigation of the country. Australian business groups are "cautiously optimistic" a visit to China by Anthony Albanese will help normalise a fragile relationship with Beijing. The prime minister will travel to China on Saturday for a six-day visit of Beijing, Shanghai and Chengdu, where he will be accompanied by a delegation of Australian business leaders. Australia China Business Council president David Olsson said the relationship between the two nations has had an "incomplete recovery" with a changing market in China. "While everyone's cautiously optimistic, I think we all recognise that the relationship remains somewhat fragile, and that's why these regular government to government dialogues is just so important," he told AAP. "We have to stop seeing risk and opportunity as opposites and the challenge for Australia generally, is to engage with China in a way that's both commercially smart and politically durable. "We need to keep this relationship going. So we have to sit back and think very carefully about how we're going to manage the risks that we see in the world at the moment in a way that serves our national interests." Mr Albanese will meet with Chinese President Xi Jinping, Premier Li Qiang and Chairman Zhao Leji to discuss global and regional issues in addition to trade and tourism opportunities. It will be his second sit down with President Xi in China after his first visit in November 2023. The stabilisation in the relationship with Beijing led to a removal of about $20 billion worth of trade sanctions on Australian products after diplomatic relations hit a low during the COVID-19 pandemic under the former Morrison government. Australian National University associate professor Graeme Smith said both governments would be seeking mutual assurances from each other on trade relations in the context of Donald Trump's trade war. "They'll be looking for possible new markets for Australian goods because the US is not seen as terribly reliable anymore," he told AAP. Dr Smith said he expected Australia to raise the lack of notification given by China when their military conducted military drills earlier this year during a circumnavigation of the country. Australian business groups are "cautiously optimistic" a visit to China by Anthony Albanese will help normalise a fragile relationship with Beijing. The prime minister will travel to China on Saturday for a six-day visit of Beijing, Shanghai and Chengdu, where he will be accompanied by a delegation of Australian business leaders. Australia China Business Council president David Olsson said the relationship between the two nations has had an "incomplete recovery" with a changing market in China. "While everyone's cautiously optimistic, I think we all recognise that the relationship remains somewhat fragile, and that's why these regular government to government dialogues is just so important," he told AAP. "We have to stop seeing risk and opportunity as opposites and the challenge for Australia generally, is to engage with China in a way that's both commercially smart and politically durable. "We need to keep this relationship going. So we have to sit back and think very carefully about how we're going to manage the risks that we see in the world at the moment in a way that serves our national interests." Mr Albanese will meet with Chinese President Xi Jinping, Premier Li Qiang and Chairman Zhao Leji to discuss global and regional issues in addition to trade and tourism opportunities. It will be his second sit down with President Xi in China after his first visit in November 2023. The stabilisation in the relationship with Beijing led to a removal of about $20 billion worth of trade sanctions on Australian products after diplomatic relations hit a low during the COVID-19 pandemic under the former Morrison government. Australian National University associate professor Graeme Smith said both governments would be seeking mutual assurances from each other on trade relations in the context of Donald Trump's trade war. "They'll be looking for possible new markets for Australian goods because the US is not seen as terribly reliable anymore," he told AAP. Dr Smith said he expected Australia to raise the lack of notification given by China when their military conducted military drills earlier this year during a circumnavigation of the country.
