CIIDS Attended Post-Pandemic Australia-China Economic Forum

The “Post Pandemic China-Australia Economic Cooperation Forum” was held in Melbourne on June 5-6, 2023. The event was organized by  the China Chamber of Commerce in Australia Melbourne Branch with the support of the Industrial and Commercial Bank of China (ICBC). China Institute for Innovation and Development Strategy (CIIDS) attend the event at the invitation of the organizers.

CIIDS Vice Chairman Feng Wei delivered a keynote speech at the opening ceremony of the forum on CIIDS’s behalf, in which he paid tribute to the fruitful achievements of China-Australia economic and trade cooperation over the past four decades. He stated that China and Australia have become a community of shared interests already, highly complementary, and highly interdependent. Australia has contributed to the reform and opening-up and the economic and social development of China, and that China has also contributed to the continued prosperity of Australia. The two sides have every reason to continue developing the friendship and cooperation, with absolutely no reason to enter into confrontation.

Vice Chairman Feng Wei said that there exist enormous opportunities for China-Australia cooperation. China has embarked on a new journey of modernization with high-quality development and higher-level opening-up as the essential requirements. And that includes institutional opening-up, which means foreign companies will be participating in the Chinese economy in a more predictable and legally-guaranteed manner. China is growing and will continue to grow in a big way. Anyone who ignores the new opportunities brought by China’s high-quality development and higher-level opening-up will be bound to lose the No. 1 market of the world. 

Vice Chairman Feng Wei said that in order to expand convergence and community of shared interests, we need honestly seek to understand each other. Unfortunately, this is where we have the largest deficit---“Understanding Deficit”. This is why CIIDS initiated Understanding China Conference ten years ago, inviting global political, academic and business leaders to have direct dialogues with Chinese leaders every year. Over the years, this conference has become one of the most influential platforms for understanding China’s development strategy. Economic and trade links are the cornerstones in the bilateral relations and can help stabilize and improve the overall relationship. CIIDS welcome all Australian political and business leaders and elites to join in the grand undertaking of Understanding China Conference, to help reduce the Understanding Deficit and improve Understanding of China and Australia.

Mr. Liu Xinghua, Director of CIIDS Center for China Economic Studies and Distinguished Professor of Tongji University made a speech around how to join hands in enhancing China-Australia Economic and trade ties in the post-pandemic era and shape a new future for China-Australia economic cooperation.

With detailed statistics and in-depth analysis, Director Liu Xinghua provided a systematic interpretation of the stable recovery of the post-pandemic global economy and the prospects of China’s economic development. He stated that the current global economy is full of uncertainties, and nations need to stick together and cooperate to overcome difficulties and embrace the future together. China is actively deepening domestic reforms, proactively expanding high-level opening-up, striving for post-pandemic economic recovery, and engaging in cooperation with other countries, with ever greater dedication to delivering new momentum for global economic growth.

Director Liu Xinghua pointed out that the economic growth of China and Australia can reinforce each other, thus forming interdependent economic relations. That being said, in recent years, China-Australia economic and trade relations have also faced challenges. Looking ahead, the key lies in focusing on the long-term development of China-Australia economic and trade relations, proactively seeking convergence of interests, continuously expanding the community of shared interests, and addressing each other’s concerns based on the principle of equality and mutual benefit, so as to bring practical economic and trade cooperation to a new high.

Director Liu Xinghua suggested six industrial areas for China and Australia to enhance cooperation as follows: resources and energy (including renewable energy), infrastructure (including new infrastructure), advanced manufacturing, husbandry, services (including producer services, modern finance, education, culture, tourism, among others), and science and technology parks. By playing to our own respective strengths, we can enhance China-Australia economic and trade ties in the post-pandemic era and shaping a new future for mutual economic development.

The forum, themed “Sharing Opportunities for A Bright Future”, provided a great opportunity for China and Australia business communities to enhance understanding, build mutual trust, and promote cooperation. More than 300 Chinese, Australian and foreign participants attended the forum, including the Hon. Premier Daniel Andrews of Victoria, Acting Consul General Zeng Jianhua from the Chinese Consulate General in Melbourne, former Australian Minister for Trade the Hon. Andrew Robb, Minister-Counsellor Gao Feng from the Chinese Embassy in Australia, Counsellor Bian Changzheng of the Economic and Commercial Office of the Consulate General in Melbourne, the Lord Mayor of Melbourne the Hon. Sally Capp, as well as senior executives from well-known Australian and Chinese companies and elites from the academic community.