Victoria's new China Strategy is designed to strengthen economic and cultural ties with our largest trading partner.
And it will help to create more business opportunities and more jobs for Victorians.
Victoria's New China Strategy: Partnerships for Prosperity sets a clear vision to make Victoria China's trade and investment gateway to Australia.
Victoria's Premier, Daniel Andrews, visited China last year to join with national and provincial governments and business leaders in helping to align the strategy to Victoria's strengths with China's needs.
Image: The Lotus Building and People's Park in Changzhou, Jiangsu Province. Designed by Melbourne-based Studio505.
The strategy also sets ambitious targets which include:
- Increasing Victoria's share of Chinese investment to Australia from 8 per cent to 20 per cent by 2026
- Attract and facilitate A$2 billion of Chinese investment into Victoria, creating 3000 new jobs within the next ten years
- Increasing overnight expenditure by Chinese visitors to Victoria from A$2.2 billion to A$3.4 billion by 2026
- Growing the number of Chinese post-graduate students enrolled in Victoria by 25 per cent by 2026
To help achieve this, Victoria will strengthen its engagement with China by appointing a new Victorian Government Deputy Commissioner with responsibility for Western China, starting by the end of 2016.
This forms part of a A$66 million boost in the 2016/17 Victorian Budget for the Victorian Government Business Office network around the globe. This network is the largest of any Australian state or territory, with 18 offices around the world including five in China.
The Budget will also provide A$4 million for the establishment of the Asia Gateway. The Gateway will assist businesses wanting to begin exporting to China by connecting them with Asia-focused services and organisations.
China is one of Victoria's most important relationships and our largest trading partner, with two-way trade between Victoria and China valued at over A$20.4 billion and exports reaching A$6.5 billion in 2014-15. The Premier will travel to China annually and all ministers will travel to China at least once before 2018.