In his speech, the prime minister expressed his strong desire to expand the mutually beneficial cooperation between China and Australia and confidence in the prospects for the development of friendly relations between the two countries.
The premier also praised the completion and opening of the Torch Innovation Park of the University of New South Wales as the highlight of investment and innovative cooperation between the two countries.
Background
1. China-Australia Friendly and Cooperative Development
This year marks the 45th year of China-Australia diplomatic relations, and the bilateral relations have gradually entered a mature and sound development phase. The BBS Business Cooperation between China and Australia is jointly hosted by the China Industrial and Commercial Commission of Australia and the China Council for the Promotion of International Trade. More than 400 Chinese and Australian government officials, business leaders and other officials attended the talks.
At present, bilateral trade between China and Australia has been growing steadily, two-way investment has become more prevalent and individual connections are becoming stronger. Trade volume between the two countries exceeded $100 billion last year and China has been Australia’s largest trading partner for eight consecutive years.
Australia has set up more than 11,000 enterprises in China with a cumulative investment of $8.3 billion. In recent years, Chinese enterprises have rapidly increased investment in Australia, and have become Australia’s largest source of foreign capital for three consecutive years, with a total investment of over $90 billion. Last year, two-way personnel exchange involved about 2 million people, and Chinese citizens made the most trips to Australia with nearly 1.2 million people; as a consequence, China has become the largest source of tourism revenue for Australia. China is also Australia’s largest source of international students, with 260,000 Chinese students studying in Australia.
2. The New South Wales University Torch Innovation Park
A year ago, premier Li Keqiang and Australian prime minister Malcolm Turnbull witnessed the signing of the torch cooperation project for the $100 million Australian dollar research fund at the great hall of the people in Beijing.
The New South Wales University Torch Innovation Park is the first park to be created outside China.
By April of this year, it was one year since the establishment of this unprecedented partnership, and the torch project had progressed encouragingly. China is expected to invest more than $100 million Australian dollars of research funds into the University of New South Wales through the torch project.
Opportunities & Challenges
1. Time Development Opportunity
The rapid development of bilateral friendly relations and economic and trade cooperation between China and Australia has brought tangible benefits to both nations and steadily enhanced economic growth.
The prime minister suggested that we should vigorously promote two-way investment. The development stage of China and Australia is different, the resource endowment is different and the industry is highly complementary, so the investment cooperation has great potential.
China will further relax investment access in agriculture, mining and service sectors and welcome more investment by Australian enterprises. As always, China supports investment in Australia, which is conducive to promoting the coordinated development of Australian industries and regions. We hope that the Australian side will create a sound investment cooperation environment for Chinese enterprises and facilitate the visa and project approval. We should deepen people-to-people and cultural exchanges and cooperation, open more direct flights, and take more convenient measures for personnel entry and exit.
The Chinese government encourages more students to further study in Australia and hopes they can make China a key country in the new Colombo plan.
Good News：
In order to encourage the new generation to establish businesses, the government has created the new Sino-Australian Student Innovation fund for Chinese students who are studying in Australia and for Australian youth who desire to promote innovation concepts in China. (At present, there are 57,000 Chinese students studying in New South Wales.)
Revelation：
As an important member of the development of China-Australia friendly relations, the desirable environment means that students will have a greater chance of finding suitable jobs or gaining support for entrepreneurial success after graduation in Australia.
In future, whether as a member of a Chinese company in Australia, or a member of an Australian company in China, your experience studying in Australia will play an important role in creating a bright future for both countries.
2. Torch Innovation Park
The New South Wales University Torch Innovation Park will gather a group of outstanding Chinese-Australian business partners, as well as scientific experts in the following leading science and technology fields: energy and the environment, advanced materials, and biological technology. These three fields combine the research advantages of the University of New South Wales and the high-value priority areas of Sino-Australian cooperative relations.
Revelation：
The achievements and development of the torch innovation park also provide some new ideas for our students when choosing a major.
When choosing a major, the most important aspect is to consider the personal interests and the suggestion of parents, rather than just following the crowd.
In addition to the business and computer fields, energy and environment, advanced materials and biological technology have also obtained vigorous support from both countries. Future employment opportunities in these fields are also very optimistic.
3. Challenge for the Students
For the students of grade 10, congratulations to you in making a wise decision by choosing to attend our international high school. Please try to improve your English level at this stage and lay a solid foundation for your further study. For the students of pre-foundation, the challenge for you is to achieve a higher IELTS score.
At the same time, you need to adapt to the English teaching environment as soon as possible. For those of you studying commerce, it is strongly recommended that you prepare for your classes by previewing the material and reviewing this same material after class. The development of a self-directed learning ability will help you to achieve higher grades and be of benefit in your future careers.