China is the largest investing country in Australia – survey

Almaty. August 19. Silkroadnews – According to «Australia 2016 International Commerce Survey» China has become the most attractive investments destination for Australian companies and the largest investor-country for Australia, «Xinhua» agency reports.

The document notes, based on responses received during the survey, 13% of Australian companies chose China as the main destination country for investments for past three years, and the major foreign funds received by 21% of Australian companies for the same period originated from China.

According to Australian Minister for Trade and Investment Steven Ciobo, the reason behind is a free trade agreement signed between Australia and China and entered into force in 2015.

The report shows, 78% of Australian export companies plan expanding their business outside the country for the next two years and consider China, U.S., India and UK as the primary market for such external investments.

The survey gathered responses from more than 900 Australian companies engaged in international business. These are mainly small and medium enterprises that operate on more than 100 markets around the world.