AUSTRALIA – COMMERCE – CHINA

Leaders to resist Trump on China

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Original article by Matthew Cranston, Simon Benson, Ben Packham, Will Glasgow
The Australian – Page: 1 & 4 : 11-Apr-25

Australian Chamber of Commerce & Industry CEO Andrew McKellar has called on the federal government to not give in to possible demands from the Trump administration to impose trade restrictions on China. Prime Minister Anthony Albanese says the government’s view is that free and fair trade is a good thing, and that Australia’s trade relationship with China is an important one. Opposition leader Peter Dutton says Australia needs to have a strong trading relationship with China, while Trade Minister Don Farrell has restarted negotiations with the European Union on a free-trade agreement.

CORPORATES
AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

China to restart lobster trade in big breakthrough

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Original article by Tom McIlroy
The Australian Financial Review – Page: 6 : 11-Oct-24

Western Australia’s Premier Roger Cook has welcomed the announcement that China will lift its restrictions on the importation of Australian rock lobsters, saying WA’s rock lobsters are the best in the world. The decision was confirmed by Chinese Premier Li Qiang in talks with the Prime Minister Anthony Albanese on the sidelines of the ASEAN summit in Laos on Thursday. China’s move to lift its ban on rock lobsters brings to an end four years of trade restrictions that were imposed on $20 billion worth of Australian agricultural exports after the former Coalition government called for an independent inquiry into the source of the COVID-19 pandemic.

CORPORATES
WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, ASSOCIATION OF SOUTH-EAST ASIAN NATIONS

China visit sees $105 billion iron ore exports on the brink

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Original article by Jamie Seidel
News.com.au – Page: Online : 20-Mar-24

China’s Foreign Minister Wang Yi will visit Australia to hold talks aimed at removing the remaining punitive tariffs on Australian exports. Wang is also expected to push for the easing of restrictions on Chinese investment in Australia, as well as support for China’s bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. However, the talks have coincided with China’s growing push to reduce its dependence on iron ore exports from Australia. BHP CEO Mike Henry recently warned that Chinese-backed producers’ growing dominance of the nickel market could be replicated in the iron ore sector.

CORPORATES
CHINA. MINISTRY OF COMMERCE, BHP GROUP LIMITED – ASX BHP

Business in a tizz over Beijing minister lunch

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Original article by Will Glasgow, Ben Packham
The Australian – Page: 5 : 19-Mar-24

The Chinese government and the Australia China Business Council have organised a last-minute lunch for Australian business leaders to meet with China’s Foreign Minister Wang Yi on Wednesday. Senior executives from mining companies BHP and Rio Tinto are expected to attend the lunch, while executives from Treasury Wine Estates and Graincorp have also been invited, but may not be able to attend due to the short notice. Commenting on the lunch, a source from one of the invited companies said that "everyone’s really nervous. No one wants to do anything that upsets things".

CORPORATES
AUSTRALIA CHINA BUSINESS COUNCIL, BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, TREASURY WINE ESTATES LIMITED – ASX TWE, GRAINCORP LIMITED – ASX GNC

TWE ready for China reopening

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Original article by Eli Greenblat
The Australian – Page: 15 : 24-Oct-23

China was Treasury Wine Estate’s biggest source of profit growth prior to the imposition of punitive tariffs on Australian imports in 2020. Treasury Wine Estates has advised that it is well-placed to rebuild this business if the Chinese government winds back its trade sanctions following its proposed review of the tariff on Australian wines. Treasury has indicated that it will allocate more of its flagship Penfolds brand to the Chinese market if the tariffs are removed, given that the brand had been highly popular with Chinese consumers.

CORPORATES
TREASURY WINE ESTATES LIMITED – ASX TWE

China wine tariffs under review

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Original article by Will Glasgow
The Australian – Page: 4 : 23-Oct-23

The Chinese government imposed tariffs of more than 200 per cent on Australian wine in 2020 as part of a widespread imposition of tariffs on Australian exports after the former Coalition government called for an inquiry into the origins of COVID-19. However, China has announced that it will review its tariffs on Australian wine. Shadow foreign affairs minister Simon Birmingham – who was trade minister at the time the tariffs were imposed – said they were "an attempt at economic coercion by China".

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

PM urged not to visit China till sanctions go

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Original article by Patrick Commins
The Australian – Page: 2 : 26-Jul-23

Prime Minister Anthony Albanese remains under pressure to postpone a proposed official visit to China amid ongoing trade tensions. Warwick Smith from the Business Council of Australia says China’s trade sanctions are an "endless point of contention" that must be addressed before Albanese considers visiting China. Smith says the Productivity Commission’s recent finding that the trade restrictions had resulted in little impact on the Australian economy shows that China’s stance had been a "political own-goal"; however, he notes that individual companies had been heavily impacted by the sanctions. The wine industry in particular has found it hard to secure alternative export markets.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA

‘Ice thaws, but slowly’: Experts optimistic on China trade

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Original article by Gus McCubbing
The Australian Financial Review – Page: Online : 23-Dec-22

Warwick Smith believes that Foreign Minister Penny Wong’s meeting with her Chinese counterpart Wang Yi will result in an easing of the $20 billion worth of trade sanctions that China imposed in Australia in 2020. Smith, who is the chairman of the Business Council of Australia’s global engagement committee, has described Wong as a "consummate diplomat". Taiwan-based Australian National University political analyst Wen-Ti Sung said he agrees with Wong’s comment that, in terms of trade, the "ice thaws, but slowly", while former Chinese diplomat Han Yang thinks Australia will have to make policy concessions to secure the release of Cheng Lei and Yang Hengjun, who are currently detained in China.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN NATIONAL UNIVERSITY

Records roll on China iron ore sales

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Original article by Ronald Mizen
The Australian Financial Review – Page: 10 : 23-Jul-21

New figures show that Australia’s iron ore shipments to China rose by $1.1bn to $14.8bn in June, despite the ongoing trade tensions between the two countries. Australia exported some $17.6bn worth of the steel input during June, with China accounting for about 85 per cent of this total. The Australian Bureau of Statistics notes that the iron ore price rose by five per cent during the month. Meanwhile, Australia’s overall exports grew by $2.8bn in June, to $41.2bn; the nation’s goods trade surplus was steady at a record $13.2bn.

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AUSTRALIAN BUREAU OF STATISTICS

China trade rises to $208bn despite feud

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Original article by Patrick Commins
The Australian – Page: 6 : 8-Jan-21

Two-way goods trade between Australia and China hit $208.8 billion over the 11 months to November, according to figures released by the Australian Bureau of Statistics on 7 January. The figure is higher than the comparable period in 2019, despite the increasingly strained relationship between the two countries. Imports from China over the subject period increased by five per cent to $76.3 billion, while Australian exports to China rose to $132.5 billion. The value of iron ore shipments fell by two per cent in November, while LNG sales were up eight per cent.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS