The Australian Government is aware of reports that trade disruptions have affected some goods entering China from Australia. For more information contact Austrade on 13 28 78 or via the export enquiry form.
This page is updated routinely with the latest market insights and is not intended to provide exhaustive coverage of each sector. Business should continue to make commercial decisions based on a thorough assessment of risk and opportunity, and obtain professional advice where necessary.
Australia-China relations – On 6 May, China’s National Development and Reform Commission (NDRC) announced it would indefinitely suspend cooperation with Australia under the 2013 Strategic Economic Dialogue.
Australia–China relations – The Australia–China Business Council hosted a national briefing with the Australian embassy in Beijing on 25 March. The briefing included updates on China’s economy, the 14th Five Year Plan and developments in Chinese digital trends.
Trade – On March 26, China’s Ministry of Commerce confirmed anti-dumping duties ranging from 116% to 218% on imports of Australian wine for five years. These duties commenced on 28 March. Punitive duties have made most trade in wine non-economic.
Economy – According to forecasts released by the World Bank, China is expected to lead the recovery of East Asian and Pacific economies this year. The World Bank’s recent East Asia and Pacific Economic Update predicts China’s economy will grow by 8.1% this year, compared with 2.3% in 2020, stimulating a 7.4% region-wide expansion. Retail sales have performed strongly so far during 2021.
Economy – China’s yuan has appreciated significantly in recent months. It gained 1.7% in May to trade at three-year highs. Factors influencing the currency include China’s strong recovery from the pandemic, a weakening US dollar and a positive economic outlook attracting inbound investment flows. An appreciating RMB makes imports more affordable.
Economy – The National Bureau of Statistics (NBS) released the results of China’s once-in-a-decade census on 11 May. It showed that China’s population increased to 1.41 billion in 2020. According to the census, China’s population in 2020 was 5.4% higher than in 2010. The average fertility rate was 1.3 children per woman, well below the replacement rate. The number of new births in 2020 fell for the fourth consecutive year. China’s population is expected to tip into decline between 2026 and 2030.
Investment – China’s FDI inflows surged at the fastest rate in more than a decade during the first quarter of 2021, according to Ministry of Commerce data released on 15 April. The South China Morning Post reported FDI in the first quarter grew by 40% to RMB 302 billion (A$60 billion), a 25% increase from the same period in pre-COVID 2019. More than 10,000 new foreign-invested companies were established in China during Q1, a 7% increase from the same period in 2019.