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Address by H.E.Amb Ma Zhaoxu at Launch Ceremony of Chinese Investment in Australia

(9 December 2015, Sydney)

It gives me great pleasure to attend the Launch Ceremony of the book: Chinese Investment in Australia. On behalf of the Chinese Embassy in Australia, I would like to extend warm congratulations on the publication of the book.

In November last year, President Xi Jinping paid a successful state visit to Australia, ushering the bilateral relationship into its best time ever. In June this year, our two countries officially signed the China-Australia Free Trade Agreement. Today, having completed our respective domestic procedures, the two sides will exchange notes to allow the FTA to come into force before the end of this year. It will be a special Christmas gift and New Year's greeting to both peoples.

China is now Australia's largest trading partner, export market, source of import, source of trade surplus, market of agricultural export, destination of services export, source of annual foreign investment, source of immigrants, source of tourism value and source of overseas students. These ten "largest" demonstrates the strength and scope of practical cooperation between our two countries as never seen before.

Economic cooperation and trade has always been a driving force behind China-Australia ties, and Chinese investment in Australia is a major highlight. At present, Australia is China's second largest destination of outbound investment. According to Chinese statistics, by the end of 2014, Chinese investment in Australia totaled US$74.9 billion. Last month, President Xi Jinping and Premier Li Keqiang met with Prime Minister Malcolm Turnbull separately on multilateral occasions. The two Chinese leaders both expressed their hope to see increased two-way investment, greater Australian facilitation to Chinese enterprises as well as more Australian business and investment in China.

In the past few years, there have been some new positive developments in Chinese investment in Australia. First, investors become increasingly diversified. Apart from state-owned enterprises, more and more Chinese private enterprises are now investing in Australia. Second, the scope of investment is expanding from traditional areas like energy and resources to new areas such as agriculture, manufacturing, finance, real estate, new energy, communications and bio-technology. Third, there is growing maturity in Chinese investment. When investing overseas, Chinese investors have learnt to focus more on business planning, risk management, social responsibility, public relations, and cultural integration. Many Chinese companies are endeavoring to create a lot of jobs for the local community while pursuing their own development. Their efforts have contributed to increased local government revenues and greater economic growth. Chinese companies take their social responsibility very seriously. They take an active part in a wide range of social programs for the welfare of local communities and play an important role in improving infrastructure, living standards and cultural life of local people. They have also contributed their share to the friendship between our two peoples and the win-win cooperation between the two countries.

China-Australia FTA is going to come into force soon. China has been advancing its Silk Road initiative and international cooperation on manufacturing capacity. Australia will carry out its plan to develop its north. All this will open new horizons for Chinese business and investment in Australia.

Chinese enterprises in Australia are also faced with quite a few challenges. More could be done to help Australians from across the sectors to gain a better understanding about Chinese enterprises. That's why the CCCA has compiled this book: Chinese Investment in Australia. The book gives a comprehensive account of Chinese investment in Australia over the past few years, tells true and touching stories about what Chinese enterprises have experienced. I am sure the book will serve as an invaluable guide to many Chinese companies who wish to do business in Australia, and open a window for Australian people to better understand China and Chinese enterprises in Australia. To conclude, I hope the book will encourage more Chinese and Australians to work together to promote win-win cooperation between the two countries.

Thank you all.

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