Doubling the value of Chinese tourism to NSW by 2020 and making Sydney a trading hub for the Chinese Renminbi are key elements of the new China strategy released tonight by Premier Mike Baird.
“The relationship with China is of enormous and growing benefit to NSW,” Mr Baird said.
“It is a relationship built on many foundations, including trade, business partnerships, government agreements, cultural links and a shared history that includes our vibrant Chinese immigrant community.
“The China relationship has blossomed over the past three years, and I particularly want to pay tribute to the work of Deputy Premier and Minister for Trade and Investment Andrew Stoner, who was in China as recently as last month.
“As China now powers towards becoming the world’s lagest economy, there are even greater opportunities for NSW, as a result of our geography, as well as our longstanding connections into China.
“This new Strategy for engagement with China is desgined to make the most of those opportunities.”
Mr Baird launched the NSW Government’s China Strategy at the Australia-China Relations Institute, before departing for China on his first overseas mission as Premier.
Under the new Strategy, the NSW Government will focus its efforts on the relationship with China across trade, investment, education and tourism.
Key areas identified in the Strategy are:
- Building on our existing relationship, including by fostering the teaching of Mandarin and Cantonese in schools;
- Attracting Chinese investment to NSW infrastructure projects;
- Boosting Chinese tourism to NSW;
- Maximising the benefits to NSW of the forthcoming Australia-China Free Trade Agreement;
- Promoting Sydney as a centre for delivering wealth management to China, and partnering with industry in a “Sydney for Renminbi” initiative;
- Strengthening the position of NSW agriculture and resources in China;
- Maintaining our market share in education exports, including by exploring on-shore campuses in China; and
- Increasing exports of NSW professional services and innovation.
Mr Stoner said “China is our largest trading partner, biggest source of international tourists and a key priority market for our State, and we are determined to build on this relationship.”
“Whether it is advocating for Sydney to become a Renminbi trading hub, leveraging the benefits of a future Australia-China FTA, or attracting greater numbers of Chinese visitors, students and investors to our great State, we will continue to push for tourist and trade growth with China.”
Mr Baird leaves for China this evening and will be meeting senior government leaders, business leaders and potential investors in Guangzhou, Shanghai and Beijing.
Mr Stoner will be Acting Premier until Mr Baird returns to Sydney on Saturday morning.