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Inbound and outbound investment was the theme of the discussion held on Friday 9 December, when ACBC Victoria hosted a visit from representatives of the China Investment Promotion Agency (CIPA). The delegates and ACBC members gathered to share an informative and beneficial session, identifying several exciting opportunities of mutual benefit.
ACBC Victoria CEO Ms Virginia Birrell welcomed guests to the event, which was opened by a short speech by ACBC Victoria President the Hon Ken Smith.
There were presentations and round table discussions by:
Ms Danielle Williams of Melbourne Exhibition Bureau; Ms Katie Flynn of Destination Melbourne; Mr Mark O’Sullivan of The Royal Agricultural Society of Victoria; Mr Wenyong Wu of KTQ; Ms Jasmine Lim of the Melbourne Convention Bureau; and Ms Susan Su and Mr David Burns from Melbourne Airport spoke from the Australian perspective.
CIPA plays a significant role in attracting foreign investment to China and assisting Chinese companies entering foreign markets. Bao explained that each event featured in CIPA’s catalogue of exhibitions and expos attracts representatives of companies from approximately 50 countries, who come to China to promote their businesses. Accompanying these business representatives are often high-ranking politicians from both China and abroad. The CIPA exhibitions were responsible for a total investment of 5.037 billion RMB in 2014-15. This promotion of two-way investment plays a key role in China’s political and economic development strategy.
One central area for bilateral investment which was discussed was agricultural technology. Gansu Province in Northwest China, the ‘rice bowl’ of China’s western region, accounts for one third of the entire seed industry in China and produces 15 million tonnes of potatoes each year, which is approximately half of China’s annual total potato production. Agricultural technologies developed and used in Victoria, which is home to many of Australia’s premier agricultural production centres, are of interest to Gansu’s agricultural industry.
The event left attendees feeling confident that they had solid leads allowing them to advance their business interests. ACBC Victoria identified the potential for future collaboration and visits to maintain the connections made during this visit. The event concluded with a summary and closing remarks by Virginia Birrell.
ACBC Victoria would like to extend our thanks to all who attended, especially to the CIPA delegation for visiting Melbourne. We look forward to meeting again on a reciprocal visit to one of CIPA’s exhibitions in China in 2017.