When Prime Minister Albanese emerged from his meeting with President Xi Jinping earlier this week, he told journalists that the Chinese leader had given him “a positive perspective on what he saw as China’s future growth” and the role it will play in its own, and the region’s, economic development.Trade Minister Don Farrell and Prime Minister Anthony Albanese visit the Australian stalls at the China International Import Expo in Shanghai.
. “Diversification,” he added, “did not amount to disengagement”, especially at the CEO and middle management level.Another CEO, speaking anonymously, said that the emphasis on a new maturity in the relationship “must be continued”. But Australia had to “get its skates on” to benefit from new opportunities in a changing Chinese economy, particularly around health tech, biotech and green energy, as well as the transition in China’s energy and carbon markets.
Albanese was given a positive readout from his hosts on China’s economic outlook. And despite the slump in the Chinese property sector, there’s some way to go to peak urbanisation.