China's development is opportunity for Australia: FM spokesperson

BEIJING, Aug. 2 (Xinhua) -- China's development is an opportunity, not a challenge for Australia, Chinese foreign ministry spokesperson Lin Jian said on Friday.

Lin's remarks came after a recent report released by the Australia China Business Council on the economic impact of trade with China on Australian households. The report shows that Australia's trade intensity with China increased average Australian household disposable income by an average of 2,600 Australian dollars (about 1,694 U.S. dollars) in the financial year from 2022 to 2023, which equates to 4.6 percent of the average household disposable income. Two-way trade with China contributed to 595,600 jobs in Australia, cutting 4.2 percent of Australian households' costs of living. The bigger the share of Chinese imports in Australia's total imports, the greater the reduction in Australians' costs of living.

"The facts and statistics in the report reveal the enormous benefits brought by trade with China to the Australians and the win-win nature of China-Australia trade ties," Lin told a press briefing. "This once again demonstrates that China's development is an opportunity, not a challenge for Australia."

He said China and Australia have a lot to offer to each other's economy and are natural partners. China is further deepening reform across the board and advancing Chinese modernization, which will generate more opportunities for China-Australia cooperation.

The two countries share a promising future for cooperation, Lin said, adding that more cooperation will help turn their complementary advantages into strong drivers of development in both countries.

It will also keep global industrial and supply chains stable and fully functional, and more importantly, contribute to the sustained economic recovery of the two countries, the region and the wider world, Lin said.

"China stands ready to work with Australia to take the 10th anniversary of the comprehensive strategic partnership between the two countries as a new beginning, implement the important common understandings between the leaders of the two countries and the deliverables of Premier Li Qiang's June visit to Australia, explore new cooperation areas, make the pie of mutually beneficial cooperation bigger, and deliver more benefits to the two peoples," Lin said.