Victorian Premier launches China Strategy at Asialink Business event

(19 April, 2016) The Premier of Victoria, The Hon. Daniel Andrews MP, launched Victoria’s New China Strategy:Partnerships for Prosperity at an Asialink Business event in Melbourne today. The strategy aims to strengthen economic and cultural ties with China, helping create more business opportunities and more jobs for Victorians.

"Victoria competes in a global marketplace and we can’t expect the opportunities that China and Asia offers to just fall in our lap – we have a plan and we’ll get it done," Premier Andrews said.

"Our China strategy is about more than just purchases and transactions, it’s about partnerships and trust."

The Hon. Daniel Andrews MP

Developed in partnership with Chinese national and provincial governments, and with business, the strategy aligns Victoria’s strengths with China’s needs and sets ambitious targets.

These include:

  • Increasing Victoria’s share of Chinese investment to Australia from 8 per cent to 20 per cent by 2026
  • Attract and facilitate $2 billion of Chinese investment into Victoria, creating 3000 new jobs within the next ten years
  • Increasing overnight expenditure by Chinese visitors to Victoria from $2.2 billion to $3.4 billion by 2026
  • Growing the number of Chinese post-graduate students enrolled in Victoria by 25 per cent by 2026

To help achieve these targets, the Government will appoint a Victorian Deputy Commissioner responsible for western China by the end of 2016, and provide $4 million in the upcoming 2016/17 Victorian Budget to establish an Asia Gateway. The Gateway will assist businesses wanting to export to China  by connecting them with Asia-focussed services and organisations.

China is one of Victoria’s most important relationships and the state's largest trading partner, with two-way trade between Victoria and China valued at over $20.4 billion and and exports reaching $6.5 billion in 2014-15.

A special guest at the Asialink Business event to launch the strategy, Minister for Small Business, Trade and Innovation Philip Dalidakis said: “Victoria has the largest network of trade and investment offices and the strongest global reach of any state or territory in Australia – with five offices in China alone.”

"This funding for our global network will allow us to give more support to Victorian businesses looking to grow and export globally, as well as strengthen our reputation as one of the world's top destinations for business investment," the Minister said.

Download Victoria’s New China Strategy: Partnerships for Prosperity.

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Heather Chai

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