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|Australia's Five Major Industries
Australia is a country with a population of only 24 million.
Although the population of Australia is not worth mentioning compared with China, it is the world's 13th economy with an astonishing economic size.
Data show that Australia has five major industries with global importance, namely natural resources, agricultural products and food, international education, tourism and financial services.
For Chinese investors who emigrate to Australia, it may be helpful to familiarize themselves with Australia's five major industries if they have the needs and plans to invest and do business in Australia.
Exports of resources and energy rank among the top four in the world Australia has the advantage of natural resources, and its exports of mineral and fuel commodities rank among the top four in the worlD.It plays a strategic role in global energy supply and demand, especially in the Asia-Pacific region.
Australia has the largest uranium resource in the world, is the world's second largest exporter of liquefied natural gas, and is one of the world's five major producers of minerals (including gold, iron ore, lead, zinc and nickel).
Renewable energy is also expected to grow substantially, accounting for 20% of electricity generation by 2034-2035. It is understood that Australia is the world's second largest gold producer after China, with many of the world's largest gold mines.
However, due to the fact that domestic gold production in China is far less than the rising demand rate and that the development of new deposits is becoming increasingly difficult, it is necessary to import large quantities of gold from Australia every year.
Data show that Australia exported 75 tons of gold in the first quarter of 2017, of which China and Hong Kong alone accounted for 57.4 tons.
China is also a big demand country for iron ore, 90% of which need to be importeD.Australia, as the world's largest exporter of iron ore, accounts for 70% of China's iron ore imports.
In addition, Australia is the second largest exporter of liquefied natural gas in the world, and China is the second largest export market of liquefied natural gas in Australia.
One of the World's Important Exporters of Agricultural Products and Foods Australia has the world's cleanest, green and safe food producers and food suppliers, and enjoys a high reputation in the world, catering to people's food needs very effectively.
Due to geographical location and other reasons, Australia has become the largest exporter of agricultural products and food to Asia, ranking among the top 10 producers of the following agricultural products and food in the world:
almonds, wool, cotton, mutton, beef, barley and sugar cane.
In the eyes of many Chinese, Australian food represents high quality, natural, pollution-free, coupled with increasing demand and other factors, so Chinese consumers have always been more interested in AustraliA.At present, China is Australia's third largest export market for agricultural products.
Especially after the gradual implementation of the China-Australia Free Trade Agreement, business opportunities for trade, investment and other cooperation between the two countries continue to emerge.
Financial Services Australia's mature financial services industry is the industry that makes the greatest contribution to the Australian economy.
The industry has more than A$7.5 trillion in assets, the fourth largest pension pool (A$2 trillion), the sixth largest investment fund pool (US$1.6 trillion) in the world, and the third largest stock market in Asia (US$1 trillion in free floating stock market value).
In recent years, as Asia's wealth and middle class continue to grow, many Australian companies are interested in exploring financial services markets in Asia, especially in China.
According to statistics, the number of high net worth individuals in China (mainland) with investable assets of more than 10 million RMB has exceeded 1 million.
The number of overseas investors in high net worth groups has doubled in the past four years.
Nearly half of them consider increasing the allocation of overseas assets.
The Australian market will be one of the main investment objectives.
International education industry is the third largest export industry Higher education institutions in Australia have become the third most popular destination for overseas students because of the high quality of teaching, the safety of campus environment and the worldwide acceptance of academic qualifications.
Rapidly developing international education industry has leapt to the top of Australia's export service industry, and in 2016 became the third largest export industry in the country, generating 20 billion Australian dollars a year for the country's income!
According to data released by the Australian government, the number of Australian students in 2017 was as high as 828,000, of which nearly 600,000 had paid full tuition fees.
Nearly 70% of these students are studying management, business, engineering or information technology.
It is worth mentioning that China has been the largest source of international students in Australia for four consecutive years since 2014. The boom in tourism has spurred related investment Australia has always been one of the most attractive tourist destinations in the worlD.It has become the eighth largest tourist market in the world and one of the countries with the highest per capita consumption expenditure of tourists.
Tourism contributes significantly to Australia's economy (2.4% of GDP).
According to the 2007 Tourism Outlook Report issued by the Australian Trade and Investment Commission, Australia received 8.6 million foreign tourists in 2016-17, and foreign tourists consumed 39.8 billion Australian dollars, of which Chinese tourists contributed nearly 10 billion Australian dollars.
The strong demand from international tourists is expected to promote the future investment prospects of the industry.
In this context, various relevant practitioners and investors see the opportunities and strive to actively explore the market.
Data show that there are 204 tourism-related investment projects in Australia in 2016-17, with a total investment of 37.8 billion yuan.
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