Victoria’s booming trade relationship with China has exceeded target expectations as Premier Daniel Andrews makes his fifth trip to the Asian nation in as many years to seal the deal.
The state’s share of Chinese investment to Australia has grown from eight per cent to 25 per cent, outstripping the 20 per cent target by eight years, the government states.
The 10-year target for the number of post-graduate Chinese students in Victoria has been exceeded while the state’s exports grew from $6.5 billion to $10 billion in the two years since 2016.
The state government is on track to meet its 2016 partnership plan target of overnight spending of Chinese tourists hitting $3.4 billion by 2026, with $2.7 billion spent in 2018.
The premier will spend three days in Beijing and the Jiangsu province to keep his promise he’d visit the country each year to cement the relationship.
“Over the past four years, Victoria’s exports to China have doubled and Victoria’s share of Chinese investment in Australia has tripled – that means more jobs for Victorians,” he said.
Mr Andrews will also attend the world’s largest economic development project and meet with key Chinese government officials and business leaders during his trip.
He will visit Victoria’s sister-state Jiangsu to mark the partnership’s 40th anniversary.