The Australia China Business Council (ACBC) released The 2014 Australia-China Trade Report last week in NSW. As a proud member of ACBC, the Chinese Desk of Polyglot attended the launch event.
The report develops a close analysis of the impact of trade between the two countries. This is also the only report of its kind that looks at the benefits of the Australia-China bilateral trading relationship at a house hold level.
Bilateral trade between Australia and China has entered the new era. According to this report, direct trade with China has contributed 5.5% to Australian GDP. Also, the growth of trade is shifting from resources industry to other industries and sectors, such as agriculture, manufacture and services. Moreover, Australia has become the major destination for Chinese investment. Chinese companies are more actively involved in the Australian domestic economy.