Turning the tables on trade
While the wall of Chinese money entering Australia has grabbed the headlines, Australia’s largest ever trade mission to China is set to showcase the property industry’s skills to the world’s largest export market.
This week, Prime Minister Malcolm Turnbull and representatives from more than 1000 Australian businesses are taking part in Australia Week in China, the largest trade delegation ever to leave Australian shores.
China is Australia’s largest trading partner. While Chinese investment into Australia is increasing rapidly – rising by almost 60 per cent in 2015 to more than $15 billion according to a report from KPMG – recent trends suggest that Australian exports to the region are expanding well beyond the traditional resources market.
Federal Minister for Trade and Investment Steve Ciobo says the China-Australia Free Trade Agreement (ChAFTA), signed in June 2015, will form the basis of “a broader, more diverse commercial relationship for many years to come”.
Australia Week in China will visit eight cities, including Hong Kong, Beijing, Guangzho and Shanghai, to highlight commercial opportunities in various business sectors such as agribusiness, financial services, tourism and urban sustainability.
Recognising the recent growth of the retirement living sector in China and the number of Australian players entering the market, the Retirement Living Council’s executive director Mary Wood will join the delegation to Australia Week in China.
China’s urban population is expected to rise by a further 100 million by 2020, when city dwellers will account for 60 per cent of the 1.35 billion population
The Chinese Government’s latest five-year plan, passed in March, promises to lift more than 75 million people out of poverty through the provision of low-cost housing.
But this promise brings with it a huge environmental challenge – one the Chinese Government is addressing. Sustainable building has been a priority sector for a number of years, with energy savings and green building regulations now in place in most ‘first tier’ cities.
Australia’s property industry is recognised globally as a ‘green leader’, and it’s this expertise that provides one of our nation’s biggest opportunities, says Property Council of Australia chief of Policy and Housing Glenn Byers.
“Our well-trained and talented architects, engineers, project managers, interior designers and developers have a wealth of experience in building energy efficient, sustainable buildings – the very buildings needed throughout China,” Byers says.
Australian architects, engineers and urban planners have carved out solid reputations in China – perhaps most famously PTW Architects, which designed the Watercube aquatic centre for the Beijing Olympics (pictured).
More recently, Brisbane firm Cox Rayner Architects won an international competition to design China’s $290 million National Maritime Museum in Tianjin, with construction now underway.
The Australia Week in China delegation will help promote more innovative Australian solutions in planning, design, systems and technologies, as well as new opportunities resulting from the ChAFTA.
“Our property industry has built a reputation for world-leading sustainable design techniques and innovative engineering solutions. Australia is a safe haven for Asian investment because we have a stable market, but also because we build quality. It’s this quality that we can export to Asia,” Byers says.
“Australia’s property and construction industry is already the nation’s largest, contributing $182.5 billion each year to the economy. While we can’t export our bricks-and-mortar, we can export our expertise,” Byers concludes.