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8 Country starter pack Introduction to China ChAFTA Overview of Benefits for Australian Businesses Australia and China signed the China Australia Free trade Agreement (ChAFTA) on June 17 2015 with it expected to come into effect on January 1 2016 – although this is not confirmed. The trade negotiations secured numerous future gains for Australian business with Australia’s largest trading partner – China. Those engaged in agriculture, manufacturing, services, investment, and resources and energy will particularly benefit. China has also agreed to a special clause recognising Australia as a ‘most favoured nation’ (MFN). This provides Australian businesses access to the same deals that China strikes in free trade agreements with other nations (such as the USA) that may offer better access to the Chinese market. Key outcomes include: • China providing Australia with its best ever services commitments • Reduced labour mobility barriers and improved temporary entry access • Duty-free entry on 95 per cent of Australia’s goods exports on full implementation of the Agreement • Within four years of the Agreement, almost all of Australia’s manufacturing, energy and resources exports will enter China duty free. ChAFTA – benefits for Australian services firms: Tariffs/Import duties under ChAFTA: China is already Australia’s largest offshore market for services. In 2014 our services exports to China were valued at $7.5 billion. With the signing of the China Australia Free Trade Agreement (ChAFTA), opportunities for Australian service providers are set to grow in coming years. Specific areas of opportunity in China include: 1. Improved market access for Australian banks, insurers, securities and futures companies, law firms, education services exporters, health-care providers, aged-care providers, construction firms and telecommunications businesses. 2. Increased business and skilled worker mobility. The Chinese Government is reducing barriers to Australians working in China. 3. Wholly Australian-owned companies will now be allowed to establish in China. This will benefit firms in areas such as telecommunications, tourism and hotels, health and aged care, manufacturing, maritime transport, real estate, and research and development. 4. Australian architectural and urban planning firmswill be allowed to obtain more expansive business licences to undertake higher-value projects in China. ChAFTA is discussed in more detail in Chapter 5. BEEF SHEEP MEAT HORTICULTURE PRODUCTS BARLEY SEAFOOD LEATHER PROCESSED FOODS The removal of tariffs of 12-25% over nine years. The removal of tariffs of 12-23% over eight years. The removal of tariffs ranging up to 30% most within four years. The elimination of the tariff of 3% immediately. The removal of tariffs including 5 & 15% respectively on rock lobster and abalone, over four years. The removal of tariffs of 5 to 14% on hides, skins and leather over two to seven years. The removal of tariffs across a range of processed foods including fruit juice and honey. WOOL An Australia-only duty free quota for wool in addition to continued access to China’s WTO wool quota.
Country starter pack Introduction to China 9 Another reason to consider China: Apart from the intrinsic merits of doing business with China, there is another important reason to consider making it your first port of call in Asia. China in recent decades has become a global business hub: it provides access to some of the largest markets in the world. It has 12 free trade agreements in force, including with ASEAN, Switzerland, Iceland, Pakistan, Chile and Singapore. Several more are under negotiation, including a proposed deal with the EU. Its geographically central position has also made it a global transport hub. It houses six of the world’s 10 leading seaports, and has freight rail links to Russia, the Middle East and Western Europe. 1.2 CHINA AT A GLANCE Geography China is the world’s fourth largest country by land area (after Russia, Canada and the US, followed by Australia as fifth) covering about 9.6 million square kilometres. East to west it measures more than 5,200 kilometres, and from north to south more than 5,500 kilometres. Its geography is highly diverse, with hills, plains and river deltas in the east, and deserts, high plateaus and mountains in the west. Two-thirds of China is covered by mountains, hills and plateaus. Of the world’s 12 highest peaks, China has seven. Its two major rivers, the Yellow and the Yangtze, both in the southeast, track through much of China’s main population and agricultural regions. Because of the huge differences in latitude, longitude and altitude across the country, China has an extremely diverse climate, ranging from tropical in the far south to sub-arctic in the far north and alpine in the higher elevations of the Tibetan Plateau. Southern regions experience a monsoon season between April and October, with severe rainstorms that can bring flooding and mudslides – and interruption to essential services. Typhoons can occur along the southern and eastern coasts between May and November. More northern regions experience four distinct seasons – spring from March to May, summer from June to August, autumn from September to November, and winter from December to February. Within China, the warmest city is Haikou on the southern island of Hainan, which averages 24.4°C for the year. The coldest city is Changchun in the northeast, near the Russian and North Korean border, which averages 5.5°C for the year. YEARLY AVERAGE TEMPERATURES IN O C Beijing Shanghai Guangzhou January -3.9 4.1 14.1 February -1.5 5.1 14.9 March 5.4 8.9 18.3 April 13.6 14.6 22.3 May 19.8 19.6 26.1 June 24.3 23.8 27.9 July 26.2 28.2 29 August 25 28.1 28.9 September 20 23.9 27.6 October 13.2 18.5 24.6 November 4.9 12.7 20.1 December -1.8 6.5 15.8 Greater China includes a number of other high-profile regions in addition to the mainland, notably the delicate, political matter of Taiwan, and the areas of Hong Kong and Macau, which were formerly European colonies and have operated with varying degrees of autonomy since being returned to Chinese rule. Hong Kong and Macau Hong Kong and Macau are classified by Beijing as Special Administrative Regions (SARs). Hong Kong Island was acquired by the British in 1842 as part of the Treaty of Nanking at the end of the First Opium War, followed by the Kowloon peninsula in 1860. The entire area, now known as Hong Kong, was leased to Britain from 1898 to 1997, when ownership returned to China. Under the 'one country, two systems' agreement between Beijing and Hong Kong, which extends to at least 2047, Hong Kong’s Chief Executive and legislature are able to make independent decisions for the region. Hong Kong has its own currency, government, separate customs territory and an independent legal system that continues to follow British law. However, there have been recent tensions in regards to Chinese control of Hong Kong particularly with the Chinese Government introducing electoral reforms associated with the Chinese Communist Party in the democratic Hong Kong. Concerns of Hong Kong citizens in regards to their civil rights and liberties resulted in the 2014 peaceful but extensive protests known as the ‘Umbrella Revolution’ (due to rain not deterring the 100,000 people protesting). This brought international focus on the future of Hong Kong and the approach Beijing has taken to address it.
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© August 2015, Asialink Business.
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China

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