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China trade forum: Shandong Province serious about SA investment

INVESTORS from China’s Shandong Province have ploughed more than $US7 billion into Australia. Now the strong sister-state relationship has SA poised to increase its share, senior Chinese officials say.

INVESTORS from China’s Shandong Province have ploughed more than $US7 billion into Australia.

Much of this has been in eastern states property market, but the strong sister-state relationship has South Australia poised to increase its share, senior Chinese officials say.

“In the future we hope to devote more attention to South Australia,” Shandong Party Secretary Jiang Yikang said.

Speaking at the opening of the SA-Shandong Co-operation and Development Forum in the provincial capital of Jinan, Mr Jiang said he was “very happy and honoured” that SA had sent such a large and high calibre delegation.

To meet the 250-plus delegates from SA, Shandong has brought in 500 people from local government and departmental level and 145 businesses.

Shandong Governor Guo Shuqing said after 29 years of the sister-state relationship and with the China-Australia Free Trade Agreement about to be ratified, the time had come to deepen trade and cultural collaboration.

Premier Jay Weatherill and SA leaders have brought a list of multimillion-dollar projects for consideration by Shandong investors such as redevelopment of Cleland Wildlife, land sales at Port Adelaide and a food manufacturing hub in northern Adelaide.

In an encouraging sign, Governor Guo indicated Shandong was serious about investment opportunities.

SA Government ministers Gail Gago, Leon Bignell and Martin Hamilton-Smith at the the Shandong-SA Co-operation and Development Forum. Picture: Christopher Russell
SA Government ministers Gail Gago, Leon Bignell and Martin Hamilton-Smith at the the Shandong-SA Co-operation and Development Forum. Picture: Christopher Russell

“The great potential for future co-operation can only be tapped if we could work on some major projects,” he said.

He saw clean energy, environmental stewardship, agriculture, tourism, minerals and education as sectors to be enhanced.

“In the year of the ram, it will bring happiness to both our countries because Australia rides on the back of the ram,” he said.

“The song Click Go the Shears, is a popular song in China.”

Mr Weatherill said there was potential for a “dramatic escalation” of the relationship.

Indicative of the change, several memorandums of understanding were signed covering education, water management, agriculture and local government.

Party secretary Jiang said the SA trade mission was the largest delegation into Shandong from other countries.

“We hope to take this event as an opportunity to continue our mutual business and people-to-people exchanges,” he said.

“Especially in technology innovation, resources and energy, modern services, infrastructure, culture in action, tourism and other fields.”

Mr Weatherill said he hoped the size and depth of the delegation from SA would show Shandong that SA took the relationship very seriously.

“With China Australia Free Trade Agreement about to be implemented, with all of the opportunities SA has for growth and all of the opportunities Shandong has for growth, I truly believe this represents a new point from which our relationship will take off,” he said.

Mr Weatherill invited Shandong businesses to visit Adelaide in September during the Royal Adelaide Show.

Delegates listen during the Shandong-SA Co-operation and Development Forum. Picture Christopher Russell
Delegates listen during the Shandong-SA Co-operation and Development Forum. Picture Christopher Russell

It is intended that Shandong will have special exhibition space at the show.

Trade Minister Martin Hamilton-Smith said the government had now structured the missions so that South Australians would visit Shandong annually in May and reciprocate each September to coincide with the show.

He urged businesses in the SA delegation to work hard at striking up partnerships.

“This is all about jobs, jobs, jobs,” he said.

Shandong Vice-Governor Xia Geng said the differences between SA and his province meant the two sides could deliver mutual benefits to each other.

“SA’s economy is quite mature and Shandong’s economic growth is very vibrant,” he said.

“So we are strongly complementary with each other.

“Because we are quite different in our social and economic development levels, industrial structure and cultural area, we have a lot of space to learn from each other.”

Vice-Governor Xia said it would “not take too long” for investment and relationships to step up to the next level.

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Original URL: https://www.adelaidenow.com.au/news/south-australia/china-trade-forum-shandong-province-serious-about-sa-investment/news-story/bf3a87bd6240cab7ce6b5b9ab783a6f9