With a middle class that is expected to reach 70 per cent of its population by 2030, and annual two-way trade with Australia reaching more than AUD $215 billion in 2018, China represents a massive opportunity for Australian businesses.

For Australia, and Australian businesses in particular, has there ever been an opportunity like China? China is Australia’s biggest trading partner, and its large and diverse market presents a lucrative opportunity for Australian enterprise.

With a middle class that is expected to reach 70 per cent of its population by 2030, and annual two-way trade with Australia reaching more than AUD $215 billion in 2018, China represents a massive opportunity for Australian businesses. There is great potential for Australian businesses to create long lasting and highly valued commercial partnerships in China.

• The China-Australia Free Trade Agreement (ChAFTA) has opened up unprecedented access and opportunity for Australian businesses, across a wide spectrum of industries, that want to embrace the opportunities in the world’s most populous nation.
• China is home to more than 1.42 billion people – about 56 times the population of Australia.
• China is the world’s number one trading nation and manufacturer (by output).
• In 2018, China’s GDP is estimated to be USD$13.41 trillion, second only to the United States.
• China’s GDP growth rate over the past three decades has often bypassed 10 per cent, and consistently exceeds 7%.
• As the Chinese economy matures, annual GDP growth is still tipped to exceed 6 per cent.
• Household incomes in China are soaring, with more than 400 million people now considered middle class.
• China’s urban middle class is expected to reach 70 per cent of its population by 2030.
• China is Australia’s biggest trading partner by a significant margin.

The stats say it all: when it comes to business and trade, China is the main game on the planet. On almost every measure, it is now bigger than the rest, and getting bigger every year. As such, China can scarcely be ignored by any business looking to expand operations beyond its own domestic market.

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