Today marks the start of the Lunar New Year; the year of the Fire Monkey. Monkeys are witty, intelligent, mischievous and often naughty.
An estimated 1.4 billion people will celebrate this year including our Asia Business team in Australia.
In a recent post we discussed our outlook for China this year. China’s economy officially grew at 6.9 percent in 2015, basically in line with expectations set by the central government and most analysts with full consideration of the myriad of challenges in implementing their late 2103 Third Plenum reform package. China’s GDP growth rate is still among the fastest of the world’s major economies.
For investors, there remains abundant commercial opportunities for Australian companies to participate and grow in China’s restructuring economy using the China-Australia free trade agreement as a key platform.
On behalf of our team, we wish you all a very prosperous Chinese New Year, particularly to our very large number of ethnic Chinese staff members and clients.
Doug Ferguson, Partner in Charge, Asia Business Group
Helen Zhi Dent, Partner, China Business Practice