(CIIE) Economic Watch: Australian businessmen see big opportunities at import expo

SHANGHAI, Nov. 8 (Xinhua) -- Seven years ago, Wei Li, an Australian businessman and the owner of Auswan, a wine brand, had some hesitation when he was invited to participate in the first China International Import Expo (CIIE).

"When global enterprises from various industries come together, there might be only a few purchasers interested in or knowledgeable about wine," he thought.

But the result surprised him. In 2019, the year after Li participated in the first CIIE, he sold about 7 million bottles of wine in the Chinese market, a great leap from the 4 million bottles in 2018. This made him a seven-time attendee of the expo.

In Li's first CIIE journey, he only met a dozen Australian enterprises. During the seventh CIIE, held from Nov. 5 to 10, his booth is set in the hustle and bustle of the Team Australia Pavilion, covering over 1,000 square meters. "It's packed with exhibitors and visitors, and sometimes I have trouble squeezing through," said Li.

Over 250 Australian enterprises attended this year's CIIE, hitting a historical high, according to the Australian Trade and Investment Commission (Austrade).

The Team Australia Pavilion gathered over 170 enterprises, showcasing various foods and beverages such as meat, seafood, wine and dairy products.

From Nov. 4 to 6, Australian enterprises and their Chinese partners have jointly signed 25 memoranda of understandings, with a total value of nearly 300 million Australian dollars (about 199.53 million U.S. dollars), said the Austrade.

China has been Australia's largest trading partner, export market and import source for 15 consecutive years. In 2023, bilateral trade in goods increased by 4.1 percent year on year. China is also the main importer of agricultural and mineral products from Australia.

China's market is huge, and Chinese consumers now attach greater importance to clean, safe and healthy food, and this happens to be the competitive advantage of Australian enterprises, said Dominic Trindade, minister (commercial) at the Australian Embassy in Beijing.

"For the Australian businesses, the CIIE is not only a chance to meet major Chinese buyers, but also a platform to know better about the changes in the Chinese market, learn from other companies in their industry, and build new cooperations," he said.

A kind of dry red wine with its wrappers featuring "celebrating the upcoming Chinese zodiac Year of the Snake" under the Auswan brand debuted at the seventh CIIE, and Li's company also cooperated with a seafood enterprise to hold cuisine culture experience activities to better attract Chinese consumers.

Just steps away, Auswan's white wine can find its perfect fine-dining mate, a whole rock lobster from the cold and nutrient-rich rugged waters off Southern Australia.

The premium seafood was brought to Shanghai from the other side of the earth by Andrew Ferguson, a seasoned Australian fisherman and now a seafood processor and exporter.

This second-time CIIE participant is eager to try his luck again. "The amount of deals I reached during my first CIIE was a really impressive number," Ferguson said, with a smile.

Speaking with Xinhua, Ferguson noted that the Chinese market's appeal lies not only in its sheer size but also in its strong demand for seafood products.

"No other place in the world has that sort of liking for seafood like the Chinese market. It's a great place for us to showcase our product," he said.

Discussing his business prospects, Ferguson said his products are already featured in five-star hotels and upscale restaurants, and he now plans to establish a retail pathway to bring them to supermarkets and, ultimately, more Chinese dining tables.

But what made the Australian businessman's CIIE story truly inspiring is that his rock lobster now serves as a testament to China's rock-solid commitment to further opening up its market.

China's opening stance has also strengthened the confidence of CIIE veterans like mining giant Rio Tinto in the Chinese market.

Rio Tinto has brought more than ten high-quality mineral raw materials and other products to the expo, including iron ore, copper, aluminum, lithium, and borates from Australia, Canada, the United States, Mongolia, South Africa and Madagascar.

Meanwhile, this year, Rio Tinto achieved a new milestone in the Chinese market, with its cumulative iron ore supply to China reaching 4 billion tonnes.

Over the years, the CIIE has had a profound and positive impact on global business and trade, fostering win-win collaboration and reshaping industry dynamics with innovative momentum for high-quality development across sectors, said Bold Baatar, Chief Commercial Officer of the company.

According to the senior executive, the event's success not only reflects China's commitment to driving reform and high-quality growth through greater openness but also highlights the importance of global partnerships in addressing shared challenges and exploring new opportunities.

"I feel immense pride whenever I think about how our raw materials have supported China in building advanced infrastructure and developing new quality productive forces, improving the lives of 1.4 billion people," he said. ■