Queensland’s largest ever trade mission to China
China is Queensland’s largest goods export market, valued at $23.7b in the 12 months to September 2023, and Queensland Premier Annastacia Palaszczuk will next week lead the largest ever trade mission in the State’s history to China to showcase the best that Queensland has to offer the world.
The five-day mission to Shanghai and Beijing follows visits from Prime Minister Anthony Albanese, WA Premier Roger Cook and Victorian Treasurer Tim Pallas.
It will include more than 100 delegates from the education, business, agriculture, trade and tourism sectors.
Queensland Premier Annastacia Palaszczuk says this comes at a pivotal time in Australia’s history with China.
“Trade restrictions are easing, and international visitors have begun arriving on our shores for the first time since 2020, as China rises to be Queensland’s top export market,” she said.
“Our state has a longstanding relationship with China that we want to see strengthen as confidence in trade and travel return.
Ms Palaszczuk says she aims “to promote better outcomes for Queensland – for our farmers, universities and VET colleges, tourism operators and business sector”.
“This will be a valuable opportunity to advocate for Queensland in one of the largest markets in the world and explore new ways we can work together in the future,” she said.
China is a top 10 investor in Australia, with major sectors including energy and mining, agriculture, finance and tourism.
In FY23, Queensland’s top goods export commodities to China were metalliferous ores ($2.3b), non-ferrous metals ($1.6b), coal ($1.5b) and cereals ($1.1b).
As part of the mission, the Premier will seek to strengthen Queensland’s trade relationship with China – supported by the states long-running Sister State Agreement with Shanghai and existing trade and investment partnerships.
The Premier will also open the Queensland Pavilion at the China International Import Expo (CIIE) in Shanghai where 73 delegates representing 28 Queensland companies will promote their products.
As one of the world’s largest trade shows, CIIE attracts more than 400,000 people and exhibitors from 100 countries.
Other highlights of the mission include decarbonisation investment and education roundtables, witnessing the signing of a number of MOUs between Queensland companies and their China-based partners.
China is Queensland’s largest source of international student enrolments and a key market for international education providers and industry.
Tourism and Events Queensland chief executive Patricia O’Callaghan says China dominated Queensland’s international tourism market pre-COVID-19, with Chinese travellers forecast to pump nearly $3b-a-year into the state’s economy by 2032.
“The Queensland Government’s support for aviation attraction is turbo-charging the Chinese visitor market, and already we have seen the return of China Eastern and China Southern back to Queensland bringing more than 459,000 inbound seats and more than $755m for the economy over the next three years,” she said.
University of Queensland vice-chancellor Professor Deborah Terry AO says “the University collaborates with Chinese universities and industry partners on globally significant research – from the production of low-emission iron and steel to the development of novel treatments for macular degeneration”.
In 2022, China was Australia’s eighth largest foreign direct investor, with 4% of the total, valued at $44.8b.
Queensland’s global business agency, Trade and Investment Queensland (TIQ) has five offices in greater China, in Shanghai, Beijing, Chengdu, Guangzhou and Hong Kong.
