How Chinese executives in Australia really feel
At the Sydney China Business Forum, hosted by University of Sydney China Studies Centre on Monday 17 November, we’ll announce the results of a survey of 51 senior Chinese executives in Australia. This is the first survey of its kind which gave Chinese executives, both state owned and private company representatives, a chance to share their views on a wide range of issues. This was with the assistance and support of the Chinese Chamber of Commerce in Australia and Dr William Chiu.
The news is generally positive and confirms that Chinese companies share many views and objectives that are similar to other multinationals operating in Australia.
The survey indicates continuing strong investment interest although away from resources. Chinese investors feel Australia remains safe and welcoming, that current Federal and State Governments were helpful but costs of operating were much higher than the US. The past 12 months have been difficult but the future outlook for profitability is positive. A disturbing 42 percent felt Australian media was not supportive of Chinese investment.
In our recent August report, Demystifying SOE investment in Australia, we noted that Chinese executives share similar commercial objectives to other foreign companies around profit and integrated globalised supply chains, but have some learning and work to do to communicate with and better integrate into Australian industry, unions and society. Interestingly, the survey results show a recognition of this weakness, in fact they are acutely aware that this is impacting business performance.
The survey is something we’ll continue as it provides useful information to help both nations better understand each other leading to better decisions and policies.