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China-Australia trade prospects are promising, Vastrade president says Release date: 2018-10-21    Source:Yicai Global

The soon-to-start China International Import Expo (CIIE) has lured thousands of companies from all over the world to attend, including many founded by overseas Chinese.

Australian trader Vastrade is one such concern. It is undergoing swift growth by exporting red wine, drinking water, honey and the like into China.

"China has a big market and is opening ever more to the outside world. Simply providing good products for the Chinese market is all we have to do," said Yu Weijia, president of Vastrade.


The company, based in the Sydney suburb of Lidcombe, New South Wales and Calabria Family Wines in nearby Griffith, a company in which Yu holds a stake, will jointly exhibit goods at the first CIIE set to run in November. Yu was interviewed in Shanghai recently, talking about his understanding of the Chinese market and the CIIE.

Q: What products will Vastrade exhibit at the CIIE?

A: Vastrade will put more than 40 kinds of wine on display, and goods like honey, drinking water and juice. Wine is undoubtedly the most important, making up 70 percent of the goods we export to China, enjoying quick growth in recent years and finding a good reception among Chinese consumers.

Q: As an Australian businessman, how do you see the prospects of trade between China and Australia?

A: Australia has rich natural resources and possesses strong global advantages in multiple areas including steel, mining and food. After years of reform and opening, China’s level of industrialization is also strengthening. China’s continuously rising consumerism has made it a huge consumer market, thus boosting trade between China and Australia.

On trade between China and Australia, the normal development of economic relations is extremely important. As an overseas Chinese, I have strong feelings about this. Though living abroad, we are still very concerned about China’s development. If economic and trade relations between the two countries can move forward better after CIIE, more Australian goods will come to China and more Chinese consumers will travel to Australia. Our trade relations will also step up to a higher stage; I have great confidence in that.