Aussie call to mine other areas
By Wang Yanlin |
May 17, 2011, Tuesday
|
Print Edition
Print Edition
Chinese investments to Australia should be more diversified and spread across various sectors, not just in its mining, Tim Harcourt, chief economist at Australia Trade Commission, said yesterday in Shanghai.
"Australia is rich in many non-renewable resources, and we have gained quite rapid growth thanks to that," Harcourt said. "But the country expects more sustainable growth that can lead us into the future."
He said about three quarters of Chinese investments in Australia were injected into the mining sector, not including those acquisition or merger attempts that failed.
But the mining sector is only part of Australia's business opportunities. The country has lots to offer in agriculture, a sector that can benefit China, and also prospects in the financial sector, said Harcourt who was on a business trip to the mainland, South Korea and Hong Kong to lure investment in Australia's financial, agricultural, retail and other sectors.
"Australia is rich in many non-renewable resources, and we have gained quite rapid growth thanks to that," Harcourt said. "But the country expects more sustainable growth that can lead us into the future."
He said about three quarters of Chinese investments in Australia were injected into the mining sector, not including those acquisition or merger attempts that failed.
But the mining sector is only part of Australia's business opportunities. The country has lots to offer in agriculture, a sector that can benefit China, and also prospects in the financial sector, said Harcourt who was on a business trip to the mainland, South Korea and Hong Kong to lure investment in Australia's financial, agricultural, retail and other sectors.
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