A new partnership between a leading Victorian med-tech company and China that has the potential to generate US$100 million in trade has been signed thanks to the support of the Andrews Labor Government.
Visiting Hong Kong, Premier Daniel Andrews today announced the new deal between Victorian based neuro and sleep diagnostics company Compumedics and Chinese health check organisation Health 100.
The two year agreement, which came about as a result of a trade and jobs panel hosted by the Premier in Shanghai last year, will see the China-based Health 100 purchase an initial one million sleep tracker devices from Compumedics, with further orders expected to follow.
The new deal is expected to generate around US$100 million in trade, and will create up to 20 jobs in Melbourne immediately, with more expected as Compumedics continues its expansion into the Chinese market.
And in another nod to the strength of Victoria’s relationship with China, the Premier also announced that Asia Society, the leading global institute forging closer ties between Asia and the West, will soon call Melbourne home.
As part of an agreement struck following a visit to Asia Society Hong Kong and a meeting with Chairman of Asia Society Hong Kong Centre and Asia Society Global Chair Emeritus Mr Ronnie Chan, the new Asia Society Australia Centre will set up in Melbourne.
The new Centre will bring a world-class institution and programming to Melbourne, and it will be the Australian and Southern Hemisphere home for the Society’s global programs in policy, education and the arts.
The new partnership comes as the Premier concludes his fourth visit to China in four years, delivering on the Labor Government’s promise to strengthen Victoria’s relationship with China, increase trade and create jobs.
In 2016 the Government set ambitious targets for trade, education, and cultural relations with China, through the Partnerships for Prosperity, Victoria’s new China Strategy, and our targets and achievements so far include:
- More than tripling Victoria’s share of Chinese investment to Australia from 8 per cent to 25 per cent, outstripping the 20 per cent target by eight years
- Exceeding our 10 year target for the number of Chinese post-graduate students in Victoria in two years
- Nearly doubling Victoria’s exports to China from $6.5 billion to $10 billion in two years
- Increasing overnight spending by Chinese visitors to Victoria from $2.2 billion to $3.4 billion by 2026. In 2018 overnight expenditure of Chinese visitors is valued at $2.7 billion
- Securing a $2 million Asia Gateway Program providing Victorian companies support to increase their export capabilities with China and other key Asian markets.
Quotes attributable to Premier Daniel Andrews
“In four years we have more than tripled Victoria’s share of Chinese investment in Australia and nearly doubled our exports to China. We said we’d reboot our relationship with China and we’re getting it done.”
“We’re bringing more Chinese visitors to Victoria than ever before, and at the same time, we’re exporting our expertise and technology in health and education to boost trade and create more business for local companies.”
“These new partnerships sum up everything we have achieved with China over the past four years – they mean more trade and more Victorian jobs and an even stronger relationship with China.”
Reviewed 19 August 2020