A recent trade mission to China has strengthened Victorian Government's drive to win a bigger share of the US$300 billion Chinese sports industry.
The Minister for Trade and Investment attended a Shanghai and Melbourne Business of Sport Roundtable providing opportunity to showcase Victoria’s expertise in major events, sports medicine and technology to high-level industry leaders and decision makers.
The event has already led to positive outcomes for Victorian business, including an agreement between Tianjin University of Traditional Chinese Medicine and Nutrigel to manufacture and export Chinese health products, and an MoU that will see the International Rehabilitation Institute open a Chinese clinic and training centre.
The Minister also attended the Gold Coast versus Adelaide football game in Shanghai, which turned out to be the most watched game in AFL history, as millions of Chinese viewers tuned in to get a taste of Australia’s national game.
China’s Five-Year Sport and Development Plan sets ambitious targets to grow the industry to about US$460 billion by 2020, and Victoria is a world- leader in many of the sectors needed to achieve this goal.
Sport was just one component of the Minister’s mission to China, which also included the announcement of a new agreement between Victoria and the massive Chengdu Hi-Tech Industrial Development Zone (CHIDZ).
The agreement will see Victorian researchers, startups and digital technology companies working with Chinese partners in the CHIDZ, which features more than 33,000 companies from China and across the globe.
The Minister also led Victorian delegations to the China International Beauty Expo to promote Victoria’s high-end beauty and wellbeing products. The Expo is China's largest beauty industry event that attracts more than 450,000 buyers and industry leaders.
Victoria cleans up at the Australia-China Business Awards
Victorian companies were also cleaning up at the Australia-China Business Awards (ACBA). Hosted by the Australian Chamber of Commerce in Shanghai last week, the awards recognised six Victorian companies for leadership in Australia-China business.
Costa Group, Total Livestock Genetics, ANZ Global Services and Operations, Swisse Wellness, MiniterEllison and Caulfield Grammar School’s Nanjing Campus all won awards across a wide range of categories.
Delivering targets ahead of time
Victorian Government is delivering on its promise to boost trade and investment with China to create more local jobs, recently announcing it had hit the ten-year investment targets set out in Victoria’s China Strategy within just two years.