Xu Hongcai Participates in the 2015 Australia-China International Capital Summit

Xu Hongcai Participates in the 2015 Australia-China International Capital Summit

On April 22-26, Mr. Xu Hongcai, Director General of the Economic Research Department, CCIEE, attended the 2015 Australia-China International Capital Summit in Sydney, and delivered a keynote speech entitled China-Australia FTA Could Create Opportunities to Bilateral Economic Cooperation. More than 300 scholars, experts and business leaders took part in the summit and exchanged views on topics such as China-Australia Investment Opportunities and Geopolitics, Offshore RMB Center and Bilateral Financial Services Opportunity.

         

Mr. Xu believed that China and Australia have great economic complementarities and the Australia-China economic cooperation has been enhanced during recent years. For instance, the range of bilateral trade has been enlarged and China has increased its investment in Australia. The signing of Australia-China FTA is a milestone in bilateral economic and trade cooperation, which is bound to bring ample opportunities in trade, investment and financial cooperation.

China’s stable economic growth has laid a solid foundation for economic cooperation between the two countries. With a population of 1.3 billion people, China represents a huge market and possesses strong demand for Australian products and services. In the process of promoting China’s urbanization, industrialization, informatization and agricultural modernization, the cooperation between China and Australia will be further strengthened.

At the end of his speech, Mr. Xu proposed that China and Australia should strengthen cooperation in the aspects of traditional agriculture, energy and manufacturing. In particular, they should undertake multi-level cooperation in the One Belt& One Road Strategy and the Maritime Silk Road, and give the role of Chinese and Australian think tanks into full play.