Austrade media release
Tuesday, 27 November 2007
China is already one of Australia’s top export destinations, but the market is about to get a whole lot bigger, with an ‘Olympic baby boom’ on the way, according to Austrade’s Chief Economist Tim Harcourt.
“There’s always plenty of discussion of China’s demographics in the news. After all, with 1.3 billion people China packs quite a punch when it comes to the world’s population and its relationship with economic and labour force growth,” Mr Harcourt said.
He pointed out while the usual population issues were around the effects of the one-child policy, the country’s gender imbalance and its ageing community, headlines were currently being dominated by a boom in babies.
“According to local authorities in Shanghai, China’s global city is experiencing a mini ‘baby-boom’ with 76,500 babies born in the year to June, which represents a year-on-year increase of over 21 per cent,” he said.
“On current projections, Shanghai’s population is expected to reach 19 million – just shy of Australia’s present population of 21 million - by the time of the Shanghai World Expo in 2010.
“In the Chinese calendar, the year of the Golden Pig is regarded as a lucky time to have a baby and that has been part of the reason for the mini baby-boom.
“Now with the Beijing 2008 Olympic Games approaching on the (very lucky) 08/08/2008, many Chinese parents are aiming to have an ‘Olympic’ baby, with some hopefuls even trying to get the baby born at 8.08pm when then opening ceremony begins.”
Mr Harcourt said the result could only mean a continued demand for Australian exports.
“According to the latest Austrade/ABS research there are 4257 Australian businesses who export goods to China - an increase of almost 12 per cent compared to last year,” he said.
“China’s rise is good for consumer products – particularly in the baby department. For example, the Wiggles, Australian exporter of the year in 2005, now have a Mandarin language franchise, so you can expect many little tots singing ‘Hot potato, hot potato’ in their native tongue soon.
“In addition, child education exporters Gymbaroo are having success in North East Asia overall (including in Korea) as disposable income of Asian parents increases. Children’s products made by Eeni Meeni Miini Moh (clothing) and Mei Mei (skin care) are also doing well.”
Mr Harcourt said the upcoming Beijing Olympic Games were the ideal opportunity for Australian businesses to explore export opportunities to China.
“Many Australian businesses are joining Austrade’s Business Club Australia (BCA) to leverage the business opportunities emanating from the Olympic Games in Beijing,” he said.
“There’ll be plenty of export action in China next year at the Beijing Olympic Games, and with an ‘Olympic baby boom’, maybe many Australian businesses looking at the Chinese market will see after all that exporting is really child’s play.”
Austrade’s Chief Economist Tim Harcourt is available for interview.
ENDS
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