For initial discussion on your business interests in China, contact Rachel Hooke.
In line with our clients’ interests, FB Rice has developed an expertise in Chinese patents, designs and trademarks. We also pride ourselves in a strong understanding of the greater Chinese market, including potential pitfalls and the myriad nuances of doing business.
Successfully traversing the Chinese market demands significant investment of time, commitment and resources, and relationships are critical. This is where FB Rice can help with our understanding of the Chinese IP systems, and our network of local business advisors, carefully cultivated based on personal relationships. In the early phases of entering the Chinese market it is essential to have the right team of business advisors with strong local experience and a demonstrated track record.
China became bound by the ‘Patent Cooperation Treaty’ (PCT) in January 1994.
As the Chinese economy moves from a focus on investment in physical infrastructure to developing social infrastructure, and as it moves from export driven growth to consumption driven growth, there will be changes in what it imports from other countries. Australia will look to maintain and build upon the trading partnership it has had with China in recent years.
China's growth since the 1970s has entailed urbanisation, growth in manufacturing, and investment in infrastructure. This created demand for building materials, energy for electricity and transport, and raw materials for manufacturing. Australia was well placed to meet much of this demand, and it was a ready market for Chinese manufactured goods.
Today, China is Australia's largest trading partner in terms of both imports and exports. Australia is China's sixth largest trading partner; it is China's fifth biggest supplier of imports and its tenth biggest customer for exports. 25% of Australia's manufactured imports come from China; 13% of its exports are thermal coal to China. A two-way investment relationship is also developing.
Australia and China have a growing range of common interests, with increasing collaboration in multilateral and regional forums. As Australia hosted the G20 and China hosted Asia Pacific Economic Cooperation (APEC) in 2014, we are working together to harmonise the respective agendas and objectives. Australia and China share a strong interest in increasing the G20’s focus on the economic challenges and opportunities in the Asia-Pacific. This includes removing trade barriers, increasing infrastructure investment and creating more jobs.
The China Australia Free Trade Agreement, signed in November 2014, is another step forward in improving Australian-Chinese relations and reducing taxes for dairy, beef, wine and horticultural produces. Our consultant Duncan Hart provided an overview of benefits to the services sector in his publication, 'China-Australia Free Trade Agreement'.