(Yicai) March 28 -- “China is a market to learn from, not just a market for us to sell into,” according to the chairman of the Australian Chamber of Commerce in the world’s second-largest economy.

“Australia’s ability to succeed in its economic transformation will depend on how well we can leverage China’s strengths, not by closing our doors but by building partnerships,” Vaughn Barber told Yicai in an interview during the Boao Forum for Asia.

China and Australia have a stable bilateral relationship, with Australian businesses’ confidence in the Chinese market increasing. This can be seen by a series of factors, such as the frequency of visits by Australian executives and leaders to China, the removal of trade impediments, and China’s unilateral visa-free policy for Australian citizens, Barber noted.

The relationship must be two-way, according to Barber. “Australian discussions on China often center on exports, but this overlooks the critical role of Chinese imports and investment in shaping Australia’s future industries.

“Australian businesses are overwhelmingly positive about the stabilized bilateral relationship, with over 86 percent expressing ‘somewhat positive’ or ‘very positive’ sentiment,” Barber said, citing the preliminary results of a survey conducted on 400 AustCham China members. “Nearly 67 percent of them ranked China as their ‘top priority’ or ‘one of the top three priorities’ for global investment.”

Despite global uncertainties, Australian companies continue to see China as a critical market, with opportunities in mining, agriculture, education, healthcare, energy trade, and renewable energy, Barber explained.

Australia’s agriculture, food, and beverage exports to China remain a key component of the bilateral trade relationship, with a focus on leveraging quality, safety, and sustainability, according to Barber. “For example, there are advancements in agricultural technology that could be deployed in China to increase the yield or efficiency of production.”

In the renewable energy and clean technology field, there are significant opportunities for cooperation between China and Australia. The former leads the world in solar power production, battery storage, and renewable energy deployment, while the latter is a key supplier of raw materials and emerging clean energy technologies, Barber said.

“With China focusing on biotechnology innovation and digital healthcare, there are opportunities for Australian companies to use remote diagnosis methods with clinical teams in China,” Barber noted.

Energy trade is another big cooperation point for China and Australia, as “policies from the Two Sessions that promote cleaner energy transitions, industrial efficiency, and stable energy imports could reinforce demand for Australian liquefied natural gas,” according to Barber. “China is the world’s largest LNG importer, and Australian LNG continues to play a crucial role in energy security and industrial fuel supply.”

About the 2025 Government Work Report released during the Two Sessions, Barber said there were several areas of particular interest to AustCham China.

Boosting domestic demand, including through e-commerce, could favor Australian exporters seeking to tap into new demand, and the focus on new quality productive forces could present opportunities for Australia to collaborate on the development and deployment of technologies that are important to each other’s economic resilience and future prosperity, he explained.

Moreover, the report signaled a clear intent to rebuild foreign investor trust. By investing in China, Australian businesses can stay closer to their customers, which allows them to gain a better understanding of consumer needs, build stronger relationships with local partners, governments, and communities, and gain greater control and oversight of their supply chain, thus improving reliability and resilience, Barber said.

“AustCham China members that have already invested quite significantly in operations and teams here can have a more constant dialogue with stakeholders and government partners,” according to Barber.

Being closer to the market also allows businesses to adapt their products and react fast to any changes in the regulatory environment, he added.

When asked about how Australian companies can maximize their success in China, Barber suggested aligning with China’s strategic priorities and adapting their strategies to capitalize on the country’s evolving economic landscape.

Despite the overall positive sentiment about investing in China, Australian firms still remain cautious about potential challenges, such as regulatory complexity, geopolitical risks, and domestic economic growth concerns.

“Even though efforts to improve regulatory consistency are underway, Australian businesses must still account for variations in enforcement at the local and provincial levels,” Barber said.

Vaughn Barber, chairman of the Australian Chamber of Commerce in China. Barber is a seasoned leader with more than 28 years of experience in China and the Asia-Pacific region, deeply engaged in bridging China with the international business community, offering strategic advice, and insights across multiple industries.

Editor: Martin Kadiev