China is one of Australia’s largest trading partners, and is responsible for the growth of many small businesses in the country. This important economic relationship has meant that Australia is now third on a list of countries Chinese business leaders view favourably, and business looks set to continue to see economic benefits from the world’s largest Asian economy.
This is according to a survey of 1,010 Chinese business leaders conducted by Zogby Research Services for the Australia-China Relations Institute at the University of Technology in Sydney.
Australia has a 93 per cent favourable rating, placing it ahead of the United States, Russia, and South Korea in terms of the attitudes of Chinese business leaders. This places it behind only Germany and Canada, who are first and second on the list respectively. Only 6 per cent of those surveyed saw Australia in an unfavourable light.
A large proportion of Chinese business leaders (76 per cent) also believe that Australia is important to China. In addition, 71 per cent responded that they thought the relationship would get more important in the next five years.
It was not just business that Chinese business leaders viewed Australia favourably on. Tourism and education were also areas where China thought Australia was well regarded. If given the choice between visiting the United States or Australia, Chinese respondents preferred the latter by a ratio of two to one. Visiting Sydney, Melbourne and the Outback was more in demand than a trip to New York, Los Angeles and Chicago, according the survey.
These positive results are likely to mean more investment and trade between the two countries and economic benefits for small businesses here and in China. Australian businesses will need to make sure they have all the necessary resources and systems in place, including specialised accounting software for importing, to take advantage of the economic relationship with China into the future.