Premier hosts state dinner for Party Secretary of China's Guangdong Province
NSW Premier Mike Baird tonight hosted a State Dinner in honour of the most senior government official in China's Guangdong Province, Party Secretary Mr Hu Chunhua.
His Excellency Mr Hu Chunhua is visiting Sydney and Canberra to build on diplomatic and economic ties between Guangdong and Australia.
"The Sister–State relationship between NSW and Guangdong has flourished over the past 36 years, particularly over the past 12 months," Mr Baird said.
"Mr Hu's visit adds an important milestone to our longstanding Sister–State relationship, which the NSW Government is committed to developing into the future."
China is NSW's largest trading partner with two–way trade worth approximately $30 billion each year.
Both NSW and Guangdong are the economic powerhouses of our respective nations and like NSW, Guangdong has the largest economy of China's 31 provinces.
The Party Secretary's visit coincides with the release of a KPMG–University of Sydney (China Studies Centre) report that shows China has invested more than $7 billion in NSW over the past year.
The report shows 72 per cent of all Chinese investment in Australia is flowing through to NSW.
"This report shows initiatives taken by the NSW Government to promote and attract Chinese investment are working," Mr Baird said.
"The recent Free Trade Agreement and decision to establish Sydney as a trading hub for the Chinese Renminbi will continue to open up trade and investment opportunities for the mutual benefit of our citizens."
The report Demystifying Chinese Investment in Australia can be accessed here: www.demystifyingchina.com.au.