Launch of NAB-ACRI Australia-China Business Engagement Index

On December 3 2015 the Australia-China Relations Institute (ACRI) in partnership with National Australia Bank (NAB) launched the NAB-ACRI Australia-China Business Engagement Index.

The Index, compiled by the NAB Economics Group, ACRI Deputy Director James Laurenceson and ACRI researcher Elena Collinson, is the first-ever report comparing attitudes of Chinese and Australian business leaders towards bilateral engagement. 

Two polls were conducted in parallel, with NAB surveying 580 Australian business leaders and ACRI surveying 1000 Chinese-resident business leaders. The findings were then analysed and compared, resulting in the new Australia-China Business Engagement Index which will be updated bi-annually.

The findings indicate that Australia is ranked as the most favourable country to conduct business with by Chinese business leaders. Business engagement between Australia and China is expected to increase over the next 12 months, benefiting from the China-Australia Free Trade Agreement. 

In launching this report ACRI Director Bob Carr joined NAB Chief Economist Alan Oster and Executive General Manager of NAB Business Cindy Batchelor to discuss the implications of the report's findings for the Australia-China business and trade relationship.

Australia-China Business Engagement Index Key Findings

• 94 per cent of Chinese business leaders are favourable towards Australia with Australia ranking number one in comparison to the US, the UK, Singapore, Russia, New Zealand, Japan, Korea and Canada.
• 76 per cent of Chinese companies cite the China-Australia Free Trade Agreement as playing some role in their decision to increase focus on Australia. The Australian assessment is more modest, with 35 per cent of companies asserting some effect by the FTA.
• 50 per cent of Australian firms engage with China while 90 per cent of Chinese firms report some engagement with Australia.
• Both Australian and Chinese firms identify manufacturing and wholesale trade as focal points for further engagement.

The NAB-ACRI Australia-China Business Engagement Index will be updated bi-annually.

Click here to view the full 2015 report.

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