Doing business with China
Start your research
- Australia’s economic relationships with China (Parliament of Australia)
- Bridging the Australia-China business ecosystem (KPMG) - Cross-border partnerships and links across Australia-China business ecosystems help Chinese Australian entrepreneurs deliver greater business impact.
- Complete Guide to Doing Business in Australia 2022 (Gilbert + Tobin)
- China-Australia relations: Beijing’s coking coal order another sign of thawing ties (South China Morning Post)
- China Country Brief (DFAT) - China is Australia's largest two-way trading partner in goods and services. DFAT reports provide a complete guide to basic information on China.
- China Country Starter Pack (Asialink Business) With a population of 1.42 billion, 400 million of which are considered middle-class, China represents a massive opportunity.
- China’s Economic and Financial Outlook (PDF, 328.14 KB) (Bank of China Research Institute)
- China's New Energy Vehicle Mandate Policy (Final Rule) (International Council on Cleaning Transport)
- China profile (Export Finance Australia)
- China-Australia Free Trade Agreement (Austrade)
- Doing business and investing in China (PwC Australia)
- Doing Business in China 2022 (Baker McKenzie)
- Doing Business in China Report 2022 (joint initiative between the China-Australia Chamber of Commerce (AustCham China), University of Melbourne, Australia China Business Council, Australian Chamber of Commerce in Hong Kong, and Australian Chamber of Commerce in Shanghai, and supported by the National Foundation for Australia China Relations)
- Export Market-China (Austrade) China is Australia’s number one export market, our largest source of international students, our most valuable tourism market, and a major source of foreign direct investment.
- FY23 Annual Review (Australia China Business Council)
- Hopes and Fears 2022 Mainland China Report (PwC)
- Mainland China Economic and Business Settlement Report 2022 (PDF) (CPA Australia)
- Market Data Australia Exports to China updated in July 2023 (Trading Economics)
- Official website of China State Council (China State Council)
Narrow your research
- Asialink Business report on Risk and Reward: Opportunities for Australian SMEs in China (PDF)
- Reuters, China's factory activity stuns with fastest growth in a decade
- Financial Review, China’s factory activity notches fastest growth in decade
- People's Daily, China's insurance market size nearly quadruples in past decade
- Peng, X. (2022), China’s population is about to shrink for the first time since the great famine struck 60 years ago. Here’s what it means for the world, The Conversation, 30 May 2022, Australia
- Peng, X. (2022), China’s population is shrinking and ageing. What can the government do?, European Financial Review, 1 November 2022, the United Kingdom.
- Peng, X. (2022), China’s Older People Risk Curtailing the Prosperity they Created, 360info, 21 November, 2022.
- Peng, X. (2023), China’s population is now inexorably shrinking, bringing forward the day the planet’s population turns down, The Conversation, 19 January 2023.
Economy Corner
China's GDP in 2023
China's National Bureau of Statistics data shows that China’s Gross Domestic Product (GDP) for 2023 was US$173,812.98 billion, an increase of 5.6% over the previous year. The national population was 1,409,670 million at the end of the year, thus China’s per capita GDP was US$12,412, an increase of 5.4% over the previous year.
The added value for each of the industry sectors was as follows: primary industry US$1,246.75 billion, an increase of 4.1% over the previous year: secondary industry US$67,034.63 billion, an increase of 4.7%; and the tertiary industry US$95,600.56 billion, an increase of 5.8%. The added value for each of the three industry sectors accounted for 7.1%, 38.3%, 54.6% of GDP respectively.
In terms of quarterly growth, GDP grew by 4.5% year-on-year in the first quarter, 6.3% in the second quarter, 4.9% in the third quarter, and 5.2% in the fourth quarter.
In addition to traditional areas, the potential for bilateral cooperation in new areas such as clean energy, services, finance, and education is unprecedented, and the future looks promising.
At the end of 2023, China’s foreign exchange reserves were US$3,238 billion, an increase of US$110.3 billion over the end of the previous year. The average exchange rate of the RMB for the whole year was 7.0467 yuan per 1 US dollar, depreciating by 4.5% over the previous year.
Exchange rate: 1US$: 7.1991RMB (Dated: 6 March, 2023)
Data sources
- https://baijiahao.baidu.com/s?id=1792234000091037450&wfr=spider&for=pc
- https://www.stats.gov.cn/english/
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Business training
We provide tailored Chinese business culture training for business organisations and communities. If you want your team to understand more about Chinese business culture and master basic Mandarin phrases, this program is what you need.
Upon completion, participants are expected to be able to:
- receive guests with simple greetings
- chat with Chinese clients and colleagues on daily topics
- express some opinions on different topics
- understand Chinese culture in the business context
- have a general understanding of the different cultures for North and South China
- have a basic understanding of selected e-commerce platforms in China.
We can also tailor the program to best fit your needs. Contact us to discuss how we can help you most effectively, and book your business training.
Business training clients
I can't thank Feng Jieyun and Liu Chunxiao enough for reigniting my belief in my ability to learn a new language, and for giving me an opportunity to feel connected to my culture and my family each week in our classes. Each class has become a highlight of my week and helped me to remove my anxiety, my fear of failure and to trust in my love of learning and connecting, with people and culture.
Samantha Teo, Brand Manager at Life-Space Corporation, Melbourne
I am so grateful that we can have VBCI with us to deliver such a fruitful program on behalf of the City of Melbourne. We have more confidence to better connect with Chinese tourists in Melbourne and I look forward to working together to build more and more cooperation so that more people can participate in the China Readiness program.
Mr. David Livingstone, Manager, City of Melbourne International & Civic Service
Disclaimer
This list of reports and resources is not definitive. Inclusion in this list does not imply endorsement by VBCI. The information provided is a guide only. The content is for information and carries no warranty. As such, the addressee must exercise their own discretion in its use.
