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Remarks by Dr. Huang Qingguo at ACBC 2016 Chinese New Year Gala

Ladies and Gentlemen,

Good evening!

I am very pleased to attend the Gala dinner for celebrating the Chinese New Year co-organized by ACBC and CCCA. In Chinese animal zodiac, 2016 is the year of the Monkey, which represents vitality, wisdom and good fortune. On behalf of the Chinese Consulate General in Perth, I would like to extend our warmest festival greetings to everyone. Wish all of you success and good fortune in the Year of Monkey!

Consul General Dr Huang Qinguo Makes Remakrs at ACBC 2016 Chinese New Year Gala

 In 2015, the China-Australia relationships have witnessed significant achievements. China has been Australia’s biggest trading partner for the past 9 years in a row. The China-Australia Free Trade Agreement, after 10 years of negotiation, has finally reached conclusion and took effect. China and Australia reached consensus on the interconnection of “the Belt and Road” Initiative and “Developing Northern Australia” plan. Australia formally participated in the Asian Infrastructure Investment Bank. All these efforts would inject new energy to both countries economic development.

The current economic situation in China has been drawing a lot of attention from Australia. As a matter of fact, despite the volatility in world economy, China’s GDP still registered a medium-high growth rate of 6.9% in 2015, which is by no means easy under the complicated and challenging situation. Although our economic growth slowed down, we have to bear in mind that there are “three consistent” in the development. First of all, the medium-high growth rate remains consistent. China’s economic aggregate has exceeded US$ 10 trillion, accounting for 15% of world economy. The current 1 % of growth in China’s GDP is equivalent 0f 1.5 percent growth 5 years ago or 2.6 % 10 years ago. The International Monetary Fund estimated the global economy grew only 3.1 percent in 2015. With a growth rate of 6.9%, China continues to be one of the fastest growing countries in the world’s major economies. Secondly, the pace of economic transition and upgrading remains consistent. Service sector has for the first time made up more than half the economy at 50.5 %. This is a full 10 % more than the manufacturing sector. Consumption contributed more than 60% to growth. The transition from investment-driven to domestic demand-driven, from industry-led to service-led has become more and more obvious. Thirdly, the contribution to world economy growth remains consistent. In 2015, China’s imports totaled US$ 1.68 trillion, ranking second in the world. The volume of crude oil import went up by 8.8 percent, the import volume of iron ore grew by 2.2 percent. The outbound direct investment reached 127.6 billion US Dollars, up by 10% year on year. China made more than one quarter’s contribution to the world economy growth. The fact that China remains a major driving force for global economy growth remains consistent.

2016 will mark the start of China’s 13th Five Year Plan. China will pursue ideas of innovative, coordinated, green, open and shared development and work to achieve high-quality, efficient and sustainable growth. China’s economy is resilient. According to major domestic and overseas research institution, China’s economy growth is estimated to maintain between 6 % and 7 %. Therefore, the trend that Chinese economy’s optimistic growth in the long run will remain consistent.

Ladies and Gentlemen,

WA is the west gateway of Australia, and is proud of its mineral resources, agriculture and leading role of economy. China has been WA’s largest trading partner and No 1 export market, while bilateral cooperation in all aspects continues to deepen and people to people exchanges constantly increase. Just last month, Geraldton Fishermen's Co-operative Ltd launched a project named “Australian Seafood Warehouse” at Baiyun Airport Bonded Warehouse in Guangzhou, China. After the launch of the project, “direct transportation of lobsters from Australia to Guangzhou” will be realized. It means that, the Australian seafood can be delivered to Baiyun airport 36 hours after they were caught and then delivered to the markets 12 hours later. This is just a small example of economic and trade cooperation between China and WA. With the implementation of the FTA, the expansion of China’s middle-income population scale, the steady growth of China's economy, these will surely bring new opportunities for education, tourism, agriculture and environmental services in Western Australian.

Ladies and Gentlemen,

All these significant achievements between China and Australia cannot be achieved without the joint efforts of ACBC and all the friends present here. Therefore, I would like to take this opportunity to express my heartfelt gratitude to ACBC, CCCA and every friend here. We are willing to join hands with you to promote bilateral relationship to achieve greater progress.

Finally, I sincerely wish you all happy and good luck in Monkey Year!

Thank you!

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