This article is a sponsored feature from Mining.com.au partner Australia China Business Council. It is not financial advice. Talk to a registered financial expert before making investment decisions.
Over half of Western Australia’s resources exports each year are destined for China and the Australia China Business Council (ACBC) is looking to strengthen those ties even further.
China ranks as Western Australia’s number one trading partner, with the Asian powerhouse holding that position since 2006 after moving ahead of Japan.
Last year, the state shipped about $124 billion worth of goods to China, accounting for 52.8% of total exports. Western Australian Government data places the average annual growth rate over the past decade at 8.2%.
Top exports include iron ore, lithium and liquified natural gas.
The positive impact of this trade relationship on Western Australian households was measured in a report released by the Bankwest Curtin Economics Centre in July 2024.
The report showed that in 2022-23, when the state sent over $147 billion worth of goods to China, the trickle-down effect of that trade relationship was the creation of 220,660 jobs, which accounted for 14.5% of total state employment.
At the same time, Western Australians enjoyed a 2.9% reduction in the cost of living and an additional $8,700 in disposable income per household.
Building on the state’s successful resources and primary industries trade with China, recent initiatives led by Western Australian Premier Roger Cook, including the 7th Premier of Western Australia’s China-WA Strategic Dialogue to be held in Shanghai, have included new initiatives centred on tourism, aviation and education.
This ever-expanding partnership is fostered through events like the Strategic Dialogue, and also the upcoming China National Day Celebration, which is a flagship event of ACBC held on 1 October each year.
The new Chinese Consul General in Perth, Madam Fu Lihua, will be attending the upcoming China National Day Celebration event.
Flagship event showcases cultural and economic ties
China National Day marks the founding of the People’s Republic of China in 1949. It is one of the most important public holidays in China and has deep political, historical, and cultural significance.
ACBC says it is more than just a holiday – it is a deeply symbolic event for the Chinese people that celebrates the founding of the modern Chinese state.
In 1973, Australian Minister for Trade and Secondary Industry Jim Cairns led a delegation of 27 Australian business leaders to China, where sessions were held at the Great Hall of the People with then Chinese Premier Zhou Enlai.
A year after the delegation, Australian trade with China increased fivefold from $200 million to $1 billion.
A key initiative from the delegation was the formation of the Australia China Business Cooperation Committee (ACBCC) – a national organisation administered by the Australian Chamber of Commerce and Industry in Canberra.
Three years later, separate state-based Australia China Chamber of Commerce and Industry (ACCCI) organisations were established.
Both organisations participated in regular missions to China and were recognised as representative Australian business associations by the China Council for Promotion of International Trade.
ACBCC and ACCCI continued to operate separately until the early 1990s, when they merged to become ACBC.
ACBC comprises around 500 member organisations and has a network of over 20,000 professionals focused on China. The organisation hosts over 200 events nationally that are attended by more than 4,000 delegates each year.
The China National Day Celebration is being held at Fraser’s State Reception Centre in Kings Park, Western Australia at 6pm on 1 October.
ACBC fosters dialogue in complex geopolitics
James Clarke, President of the WA branch of the ACBC, says the event is a strategic opportunity to maintain dialogue and cooperation in a sometimes-complex geopolitical environment.
“Australia and China share a widely recognised economic complementarity, but the vast cultural and systemic differences between the two nations make regular dialogue essential. Events such as the Strategic Dialogue and China National Day foster mutual understanding and build cross-cultural competency — both of which are critical to doing business successfully with China,” he tells Mining.com.au.
“These initiatives continue to show that ACBC WA and the China Chamber of Commerce in Australia (CCCA) Perth Branch serve as a bridge between the two countries, advocating for constructive engagement and mutual benefit.”
This year’s celebrations are about deepening trust, expanding business, and future-proofing the Australia-China relationship – with Western Australia playing a leading role.
Fortescue (ASX:FMG) is the key event sponsor and a major partner of ACBC WA and CCCA Perth Branch.
Citic Pacific Mining (HKG:0267) and Tianqi Lithium are also WA partners, while Rio Tinto (ASX:RIO) is a national partner.
Key speakers at this year’s China National Day Celebration include Western Australian Premier Roger Cook, the newly appointed Chinese Consul General in Perth and a representative of Fortescue.
“As one of WA’s major events for the bilateral business community, the event has grown bigger as more high-profile guest speakers have seen the relevance of the event, as well as participants,” Clarke says.
“While challenges may have arisen in the past, this celebration reinforces the mutual willingness of both nations to collaborate and prosper together.
“It also raises greater awareness of the shared interest in deepening economic and cultural ties, pointing to a promising future built on cooperation and respect.”
To secure your ticket to the China National Day event, click here. Mining.com.au is a media partner of the event.
Write to Angela East at Mining.com.au
Images: Australian China Business Council
