China's development will bring more opportunities rather than challenges to Australia, Foreign Ministry spokesman Lin Jian said on Friday at a press conference in Beijing.
Lin was responding to a report on the economic impact of trade with China on Australian families which was commissioned by the Australia China Business Council (ACBC) and recently released by the Bankwest Curtin Economics Center (BCEC), an independent economic and social research organization located within the Curtin Business School at Australia's Curtin University.
According to the report, Australia's trade with China increased disposable income by an average of 2,600 Australian dollars (about 1,690 U.S. dollars) for each Australian family in the fiscal year 2022-2023, which "equates to 4.6 percent of disposable income per capita."
Australia's trade with China created up to 595,600 jobs and put downward pressure on the living cost, which is estimated to drop by 4.2 percent, said the report.
The report found that the greater proportion of Australia's imports from China in its total imports, the more the living cost will be reduced.
Lin said that Australia's cooperation with China has brought tangible benefits to its people, and that China's development will bring more opportunities for Australia.
"We have noticed the report released by the Australian institution. The facts and data listed in the report reflected the huge benefits Australia's trade with China has brought to the Australian people, highlighting the mutually beneficial and win-win nature of the China-Australia economic and trade relations. It has once again shown that China's development is an opportunity rather than a challenge for Australia. China and Australia are natural partners for cooperation as their economies are highly complementary. China is now further deepening reforms comprehensively to advance Chinese modernization which will bring more opportunities for China-Australia cooperation," said Lin.
"Cooperation between China and Australia enjoys broad prospect. By strengthening bilateral cooperation, the two countries can transform their complementary advantages into powerful driving forces for common development. It will also contribute to maintaining stable and unimpeded global industrial and supply chains and inject more positive energy into the sustained economic recovery of the two countries, the region and the world at large. Taking the 10th anniversary of the China-Australia comprehensive strategic partnership as a new starting point, China is ready to work with Australia to implement the important consensus reached by the two heads of state and the outcomes of Chinese Premier Li Qiang's visit to Australia in June this year. We will continue to foster new growth drives of China-Australia cooperation and make the 'pie' of win-win cooperation bigger so as to bring more benefits to the two peoples," Lin said.
China's development brings opportunities rather than challenges to Australia: spokesman
