Australia has long had a strong relationship with China, and with its rapidly growing economy over the last decade and geographical proximity, it is an obvious destination for Australian businesses.
- China is Australia's largest export market
- Australia exported $90 billion of goods and $8 billion in services to China in 2014
- China now buys almost a third of Australia’s exports
- Chinese-Australian investment relations lag behind trade, tourism and education but the ties are thickening fast
- China’s economic transformation over recent decades has made it an attractive destination for investors and exporters
- Over the past 10 years, real GDP has expanded by an average 10% p.a.
- China is currently undergoing a structural slowdown — growth is expected to moderate over the medium term
- In recent months, China’s equity markets have suffered a sharp downturn
- A raft of policy measures have since restored investor confidence and stabilised markets
- China’s economic slowdown and volatile equity market has pushed down the prices of Australia’s key mining exports
- Non-mining exporters may benefit from a weaker exchange rate
- The World Bank ranks China in the second bottom quartile of economies for three dimensions of governance: rule of law; political stability and absence of violence; and control of corruption
- China scores in the lowest quartile of the World Bank ratings for voice and accountability
Find out more
Find more detailed information about China’s economic and political climate here.