Emerging inland China prospects to benefit Aussie exporters
Emerging inland China prospects to benefit Aussie exporters
Oct 10, 2005: Export opportunities in China for Australian businesses are on the rise with recent trends showing a shift in the focus of growth away from the ‘big three’ – Shanghai, Beijing and the Hong Kong/Pearl River Delta (PRD), as other cities look to capitalise on the economic success of the aforementioned areas.
That is the view of Austrade’s chief economist Tim Harcourt, who has been keeping a keen eye on developments in the region.
"After watching the growth in wealth of the big three, the rest of China is keen to get a slice of the action and the Chinese authorities are directing their resources in their direction.
“Inland cities such as Chongqing, Wuhan, Nanjing and Chengdu are keen to generate economic growth and attract infrastructure investment in airports, freeways, factories, offices and apartments for their growing populations.
“These regional centres are not country towns. The Chongqing region is estimated to have 12 million inhabitants, Wuhan seven million, Nanjing six million and Chengdu five million," said Harcourt.
The rise of the interior is really good news for Australian exporters, said Harcourt. The expansion of opportunities for Australian businesses in inland China has been reflected in Austrade's operations too, with Austrade having opened four new offices in China this year, including one in the inland city of Xian. There are now 15 Austrade offices throughout China covering the country from Dalian in the North to Kunming in the South, as well as the abovementioned Wuhan, Nanjing and Chengdu in the middle. These offices are also staffed by close to 100 marketing specialists.
According to Peter Ironmonger, Australia’s Trade Commissioner in Shanghai, the PRD represented the first wave of modernisation with the Shanghai-Pudong region being the second wave.
“Now the interior and western regions are looking to follow the coastal areas in terms of their own economic development. This will provide opportunities for Australian companies involved in infrastructure, construction, architecture and environmental design."
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