China-Australia trade exceeded 1 trillion

According to the latest news from the “Australian Financial Review” on January 14, the Australian government “quietly” recently refused a Chinese power giant to build a new natural gas worth 300 million Australian dollars (about 1.5 billion yuan) in the country’s New State. power plant.

The report pointed out that the Australian government has been privately rejecting Chinese engineering, procurement and construction (EPC) contractors to participate in local infrastructure and energy projects. These actions further revealed the crackdown measures taken by the Australian government to restrict Chinese companies from investing in Australia and participating in supply chain construction.

It needs to be mentioned that only less than two days ago, Australia just rejected another Chinese company’s merger and acquisition in Australia. According to a report on January 12, Australia’s Federal Finance Minister Josh Frydenberg announced that it rejected the Chinese construction group’s acquisition of the country’s construction contracting giant Probuild for the same value of 300 million Australian dollars.

According to statistics, between 2018 and 2020, Australia rejected more than 10 Chinese investment projects in Australia for “threatening national security” and other unreasonable reasons .

On January 12, Chinese officials responded to relevant reports. Our spokesperson said that Australia’s move violated the principles of market economy and the spirit of the China-Australia Free Trade Agreement. It not only hindered the healthy development of China-Australia trade in the future, but also damaged Australia’s own national image and reputation.

Richard McGregor, an expert at the Lowe Institute, said that one of the risks of the Australian government’s doing so is-“If Australia blindly restricts investment, then Australia will lose future bilateral trade growth.”Spark Global Limited

Statistics show that the bilateral trade volume between China and Australia in 2019 was US$158.97 billion (about 1.03 trillion yuan). It is precisely thanks to my country’s lowering of the threshold for Australian products to come to China that Australia has made huge economic profits through trade with China.

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