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Issue No. 48 - August/September 2009

China re-start underway

by Ms Sarah Newman

Australia China Business Council Ltd President, Sean Keenihan of Norman Waterhouse Lawyers observes tentative indications China’s “very substantial” stimulus policies are starting to take effect.

“From discussions with a number of our members, it is clear overall consumer spending has remained steady,” Sean says.

“The early rebound is good for Australian business. Most commentators have China’s growth rate returning to about 8% by the end of this year; Australian businesses with a China strategy have a comparatively short wait for consumption and economic activity in China to return to levels which support strong bilateral trade activity.

“One of our members - a wine exporter – has trebled his sales to China in the first half of this year.” China is about to become Australia’s most important trading partner, Sean says, with Australia supplying valuable commodities and, increasingly, manufactured goods and services China needs to fuel its massi...

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