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Trade & Investment

Australian firms to ramp up China ventures

Craig Hill Training Services

Australian companies are ramping up their investments in China as they express renewed confidence about the nation’s economic growth while also warning of tougher competition from Chinese rivals.

Almost three quarters of the Australian firms already operating in China are likely to expand their operations in the wake of the country’s leadership transition late last year, according to a government report on the $77 billion export market.

Trade Minister Craig Emerson said the message to others was to follow the leading companies into Asian markets to take advantage of the region’s growth.

The report comes as Chinese authorities forecast a rebound in the year ahead after the economy grew 7.9 per cent in the last quarter of 2012.

Profits at Chinese industrial companies rose 17.3 per cent in December compared with the same month a year earlier while the head of China’s sovereign wealth fund, Lou Jiwei, said at…

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