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The Australia-China Young Professionals Initiative (ACYPI) welcomes all young professionals, entrepreneurs and students to join us in discussing current issues in Australia-China trade and to meet with peers with a common interest in the bilateral relationship.
Niranjan Arasaratnam and Lin Yang from Allens Arthur Robinson will provide their insight and analysis on:
· What is Australia’s current trading relationship with China?
· How will China’s 12th Five Year Plan impact on demand for natural resources?
· Which industry sectors are best placed to meet China’s changing demands post-mining boom?
Australia will continue to benefit from the China driven resources boom and the new 12th Five year plan will open further opportunities for Australian businesses, said a bullish Niranjan Arasaratnam, partner and co-head of China client services, Allens Arthur Robinson.
In 2009-2010 financial year, $32 billion out of the $46 billion in exports came from iron ore ($25 billion), coal ($5 billion) and copper and other minerals ($2 billion) combined, emphasising the importance of natural resources to the bilateral trade relationship. The next biggest export was the services sector contributing approximately $5.8 billion from predominantly education and tourism.
The focus on economic reconstruction, social equality and environmental protection in the 12th five year plan will also open further opportunities for Australian business said Lin Yang, legal research assistant at Allens Arthur Robinson. The backbone of the future Chinese economy will be in strategic industries such as biotechnology, new energy, high-end equipment manufacturing, environmental conservation and protection, clean-energy vehicles, new materials and new generation IT.
Niranjan concluded by stating that whilst the mining boom is likely to continue in the short term, companies involved in financial services, clean energy, agriculture and recycling and waste management also stand to benefit from the changing nature of the Chinese economy.
ACBC thanks Niranjan Arasaratnam and Lin Yang for their contributions and ACYPI for hosting the event.