Recently, at the Import Expo, Chinese and Australian companies signed 11 agreements covering a total of nearly 15 billion Australian dollars (about 75.8 billion yuan), covering tourism, resources, infrastructure, e-commerce and logistics services. A range of areas within. However, the amount of each transaction and how many orders are new demand are not clearly indicated by the Australian side.
It is understood that China is currently Australia's largest trading partner and the largest export destination country, and Australia is China's sixth largest export destination country. In 2017, the bilateral trade volume between China and Australia was US$136.26 billion, a year-on-year increase of 25.9%.
According to the China-Australia Free Trade Agreement, since 2015, China and Australia have carried out four tariff reductions, and imports of goods from Australia have begun to gradually reduce tariffs. A considerable number of commodities will achieve zero tariffs within five years. China and Australia will carry out the fifth round of concessions on New Year's Day next year.
Simon Birmingham, Australian Minister of Trade, Tourism and Investment, said: "From January 1, 2019, after 8 weeks, all Chinese goods entering Australia will be exempt from customs duties. China will also cancel the import fair. Customs tariffs on a range of Australian products, including wine, infant formula and honey."
The list of A$15 billion agreement between Chinese and Australian companies is as follows:
Iron Ore and Supply and Transportation Agreement between FMG Group and Angang Group International Trade Co., Ltd., Baotou Steel Group International Economic Trading Co., Ltd. and Lingyuan Iron and Steel Co., Ltd.;
ANZ signed a commitment to reach a financing arrangement with China Communications International (Hong Kong) Holdings Co., Ltd.;
The financing agreement signed between BBI Group and Zhongchong Group and the iron ore supply and transportation agreement signed with Shanghai Shengxuan Group;
Agreement between Aojiabao and JD.com to distribute health care products through e-commerce channels;
A logistics service cooperation agreement signed by Australia Post and China Inspection and Certification (Group) Co., Ltd. including traceability and logistics tracking;
Adelaide Hong Kong-Australian Football Club and Rio Tinto signed an agreement to promote Australian football and support the Aboriginal Sports Leadership Program in China;
Tourism Australia and China Eastern Airlines have signed a commitment to promote tourism in major Australian and Chinese markets;
The Australian Trade and Investment Commission has signed an agreement to expand Australian product procurement on the Suning e-commerce platform.