On April 7,2017, SASAC Chairman Xiao Yaqing met with Ms. Jan Adams, Ambassador of Australia to China.
After expressing welcome to the delegation, Xiao Yaqing said that President Xi Jinping’s keynote speech at Davos earlier this year showcased the open and shared long-term development strategy of Chinese government and enterprises. He also mentioned Premier Li Keqiang’s fruitful visit to Australia this March. As China and Australia are complementary strategically and economically, there is great potential for cooperation between the two countries in resources, technology, education, etc. SASAC encourges Chinese central SOEs to conduct long-term cooperation with Australia. China’s rather low per capita hold of resources and its continual progress of industrialization and urbanization promise huge market potential. Though Chinese central SOEs have a large assets volume, there is still much space for international operation. To further enhance their performance and competitiveness and to preserve and increase the value of state-owned assets, Chinese central SOEs should follow the trend of globalization and promote international operation. In the past decade, the growth of China’s foreign trade outpaced outbound investment. In the future, Chinese central SOEs should increase overseas investment on the basis of steady trade growth. Apart from abundant energy and mineral resources, Australia also boasts competitive advantages in clean energy and advanced technology. Xiao Yaqing hoped that Chinese central SOEs will work together with Australian counterparts to bring the long-term friendly and stable bilateral economic relations to a new high. He also introduced central SOE’s CPC building and reform.
Jan Adams said that the past 30 years have witnessed reform, opening up and mutual development of the two countries. She hoped that Chinese and Australian enterprises, with a long-term and mutually beneficial perspective, enhance cooperation not only in trade, but also in service industry, technology research, training and education, and healthcare. Jan Adams also exchanged views with Xiao Yaqing on issues such as supervision of Chinese SOEs’ overseas investment.