ShineWing Australia is delighted to sponsor this industry leading trade report, The Long Boom: What China’s Rebalancing means for Australia’s Future, which was produced in conjunction with Monash Business School and the Australian Centre for Financial Services.
The report indicates that Australia’s services sectors are set to benefit from China’s changing economy with the substantial growth of its middle class and the transition of its economy opening up new export opportunities. It projects that Australia’s construction, healthcare, education, tourism and financial services sectors are set to potentially benefit from China’s rebalancing economy in the years to come.
Managing Director of ShineWing Australia, Mr Marco Carlei, emphasised that while China’s rebalancing economy will present enormous opportunities, Australian businesses will need to adapt to the preferences of Chinese consumers and be far more attuned to the cultural and business nuances of the market.
Mr Carlei said “the nature of selling ‘rocks and crops’ has meant that Australian suppliers have been, by and large, insulated from the need to change or adapt the nature of their product to appeal to the Chinese market.”
"In contrast, tapping into the growing demand for services in China will require significant changes to industry practice and thinking. Businesses will need to consider specific customer tastes and requirements and, where they do not have these skills, either formulate strategies to quickly develop them, or partner with organisations familiar with what will be required in this market to ensure success,” he said.
This report marks the start of more constructive and positive dialogue about the trade relationship between our countries and we welcome that. On a daily basis, we help our clients navigate processes and procedures to establish a presence in Asia more efficiently and maximise the value of their investment quickly. As advisors, we share the entrepreneurial spirit of clients and we are committed to building strong relationships with Australia’s most significant trade partner, China.
To access the full report please click here.
To access a copy of this report in Chinese, please click here.
To find out more, or to discuss the report with one of our team members, contact us today via [email protected]