China's investment does not match status as Australia's top trade partner

09:34, July 27, 2011      

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China's investment in Australia does not match her status as the nation's largest trade partner, said Duan Jielong, China's Consul-General in Sydney on Tuesday.

In a speech to Australia China Business Council (ACBC), Duan said as more and more Chinese companies come to Australia to invest, there seems to be some concerns about Chinese investment being too much and growing too fast.

"I personally believe such worries are not at all necessary." Duan said.

"Chinese companies investing in Australia, including state- owned companies, all abide by Australian laws and regulations, and follow the rules of market economy, and they work hard to make profit for their shareholders," he said. "There is no difference in nature between Chinese companies and companies of other countries."

Duan also proposed that China and Australia need to promote the cooperation in infrastructure as a new growth point.

He said, in the coming five years, Chinese companies will speed up "going overseas".

"The new round of mining boom in Australia, the building of the National Broadband Network, New South Wales' development of a new financial service center and the building of new railways are releasing great demand for the infrastructure industry," he said.

"In these areas, Chinese companies have rich experience and technologies. There are broad prospects for companies of both Chinese and Australian to work together. At the same time, we also welcome Australian companies to invest in China's infrastructure projects, especially in China's Middle and Western regions."

Duan also noted that service sector marks a new potential ground for China-Australian cooperation.

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