Business / Economy

Businesses see China-Australia trade corridor attractive

(Xinhua) Updated: 2016-01-28 15:25

SYDNEY - Businesses see the China-Australia corridor as an attractive prospect as both economies transition into sustainable growth focusing on Asia's burgeoning consumer economy.

Members of the China-Britain Financial Club gathered in Sydney on Thursday seeking members for the new China Australia Money Club as opportunities become ever present following the removal of trade barriers by the enacted China-Australia Free Trade Agreement.

Australian leaders have previously said the trade treaty is fundamental to the nation's future prosperity as it opens up markets for local companies to exploit China's growing middle class and the ensuing consumption economy.

"The ecology of consumption in China will be transformed," China Australia Media Group managing director Lisa Li said via a translator, noting the changing media landscape has already transformed consumer thinking via Internet information flows and social media.

Mobile telecommunications has become the big hope of the Asian consumer economy, as new disruptive technology-based business models are providing the foundation stones for large e-commerce and other digital businesses.

The challenge now for small business and start-up's, however, is capitalizing on the opportunities and economic corridor created by the China-Australia FTA.

"We believe there can be a closer relationship between China and Australia," Suntone Group chairman Ai Xin said via a translator.

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