Victoria’s New China Strategy: Partnerships for Prosperity sets a clear vision to make Victoria China’s trade and investment gateway to Australia.
In a first for an Australian Premier, Premier Andrews visited China last year to personally consult Chinese national and provincial governments, and business, partnering with them to help develop the strategy. It aligns Victoria’s strengths with China’s needs and sets ambitious targets.
- Increasing Victoria’s share of Chinese investment to Australia from 8 per cent to 20 per cent by 2026
- Attract and facilitate $2 billion of Chinese investment into Victoria, creating 3000 new jobs within the next ten years
- Increasing overnight expenditure by Chinese visitors to Victoria from $2.2 billion to $3.4 billion by 2026
- Growing the number of Chinese post-graduate students enrolled in Victoria by 25 per cent by 2026
To help achieve this, Victoria will strengthen its engagement with China by appointing a new Victorian Government Deputy Commissioner with responsibility for Western China, starting by the end of 2016.
This forms part of a $66 million boost in the 2016/17 Victorian Budget for the Victorian Government Business Office network around the globe. This network is the largest of any Australian state or territory, with 18 offices around the world including five in China.
The Budget will also provide $4 million for the establishment of the Asia Gateway. The Gateway will assist businesses wanting to begin exporting to China by connecting them with Asia-focussed services and organisations.
China is one of Victoria’s most important relationships and our largest trading partner, with two-way trade between Victoria and China valued at over $20.4 billion and exports reaching $6.5 billion in 2014-15. The Premier will travel to China annually and all ministers will travel to China at least once before 2018.
Quotes attributable to Premier Daniel Andrews
“Victoria competes in a global marketplace and we can’t expect the opportunities that China and Asia offers to just fall in our lap – we have a plan and we’ll get it done.
“Our China strategy is about more than just purchases and transactions, it’s about partnerships and trust.”
Quotes attributable to Minister for Small Business, Trade and Innovation Philip Dalidakis
"Victoria has the largest network of trade and investment offices and the strongest global reach of any state or territory in Australia – with five offices in China alone."
"This funding for our global network will allow us to give more support to Victorian businesses looking to grow and export globally, as well as strengthen our reputation as one of the world's top destinations for business investment."
Reviewed 19 August 2020