China-Australia Free Trade Agreements
Frequently asked questions
China-Australia Free Trade Agreement into China's free trade pilot area in Shanghai part of the independent opening measures, can tell us about the situation?
The Shanghai Free Trade Experimental Zone is the forefront of China’s reform and opening up. China’s free trade pilot area part of the independent opening measures into the China-Australia FTA, reform experience “can be copied to promote a good” good expression.
In the area of trade in trade between China and Australia, some liberalization measures in the Shanghai Free Trade Experimental Zone, including telecommunications, law, construction and shipping, have not only created more market opportunities for Australian service providers, To provide valuable experience in reforming the test within the controllable range.
China-Australia FTA is the future of the two sides "upgraded version" negotiations pre-arranged arrangements?
After the entry into force of the China-Australia FTA, the two sides will start the next round of service trade negotiations at an agreed time, with a negative list and start the trade negotiations as soon as possible.
This will effectively implement the Party Central Committee and the State Council on further deepening the reform of the deployment.
The negotiation of trade in services by way of negative lists will help to achieve higher levels of liberalization in China’s service industry, adapt to the new situation of economic globalization, promote the free flow of international and domestic elements, the efficient allocation of resources and the depth of market integration. Foreign service providers offer more market opportunities.
China-Australia FTA signed, the Chinese service industry may face some impact and challenges, may I have any comment on this?
China and Australia have achieved mutually high levels of mutually beneficial negotiations in the field of trade in services. As a developed country, the Australian service industry development level is higher.
After the entry into force of the China-Australia Free Trade Agreement, Australian service providers will have more opportunities to enter the Chinese market, which will not only allow Chinese people to experience the quality and efficient services, but also to some extent for China’s industry development to provide more cooperation opportunity.
For example, the strengthening of cooperation between China and Australia in the field of education will make the Chinese students studying abroad in Australia more solid, flat and broad; and part of our open measures into the agreement, will further open up for China’s future play a constructive role.
we note that the Australian service provider will allow the establishment of wholly foreign-owned profit-making pension agencies in China, how to interpret this open measures?
In September 2013, the State Council issued a number of opinions on accelerating the development of the old-age service industry. It was proposed to build a home-based, community-based, institution-supported, fully functional, moderately and urban- Old age service system.
Among them, clearly stipulates that will vigorously strengthen the construction of pension agencies to encourage foreign investment in pension services. We believe that developed countries such as Australia and other developed countries in the development of pension services industry has extensive experience in allowing its establishment in China pension agencies, not only to meet some domestic consumers on the demand for high-end pension services, but also help domestic relevant service providers to absorb foreign investment Advanced management and service concept, and promote China’s pension industry service quality and level of improvement.
As a developed country, Australia has a relatively sound pension system. Government, non-profit organizations and commercial enterprises are the participants of the pension service, with advanced service concept and management experience, and play a different role. Through the China-Australia FTA, allowing Australian service providers to set up wholly foreign-owned profit-making pension agencies in China, will help promote the steady development of domestic pension industry, and better meet the people’s needs for pension services.
In the China-Australia FTA, Chinese medicine services "going out" made a series of results, can introduce the relevant situation?
Chinese medicine is an important carrier of traditional Chinese culture, and vigorously promote the trade in Chinese medicine is an important task for the comprehensive development of Chinese medicine.
After hard negotiations, China has made a series of achievements in the China-Australia Free Trade Agreement on Chinese medicine service “going out”, which will provide a useful reference for other trade agreements and other overseas Chinese medicine services market.
The details include:
In addition, as an important part of the outcome of the China-Australia FTA, the two sides also decided to sign an exchange of ideas aimed at improving the operability of cooperation between Chinese medicine services and Chinese medicine trade, encouraging and supporting the development of Chinese medicine research and development, Relevant professional bodies and registered departments to strengthen communication and promote the two sides on the Chinese medicine-related policies, regulations and initiatives for information exchange.
What is the current status of bilateral investment in China and Australia? How will the China-Australia FTA sign affect the bilateral investment?
Australia is China’s second largest overseas investment after Hong Kong’s second largest destination. In recent years, Chinese enterprises to invest in Australia to grow faster.
China’s direct investment in Australia increased from US $ 587 million in 2005 to US $ 3.458 billion in 2013, with an average annual growth rate of 54.3%.
As of the end of 2014, China’s total investment in Australia 74.94 billion US dollars, of which a total investment of 19.55 billion US dollars.
Chinese enterprises to invest in Australia, including mining and oil and gas development and other resources and energy industry, including mining investment accounted for 2/3 of the total.
As a result of the relatively high level of open investment commitments between China and Australia, it will play a positive role in maintaining the current investment development momentum and expanding new investment areas and will contribute to the further development of bilateral investment. In particular, the Australian side to relax the investment in China’s non-governmental investors review, will effectively promote China’s private enterprises to invest in Australia.
China-Australia FTA in the field of investment which include the main content?
On the basis of equality and mutual benefit, the two sides construct a comprehensive investment rules framework under the FTA to encourage and promote bilateral investment to strengthen all-round cooperation in the field of investment and create a more free, convenient and transparent , A fair and secure investment environment.
Since the effective date of the agreement, the two sides agreed to give each other investment MFN treatment, the future of the two sides to other economic and trade partners preferential treatment will also give each other.
Australia has given the Chinese side roughly equivalent to its high level of investment in trading partners such as the United States, South Korea and Japan, and is listed in a negative list.
At the same time, a substantial reduction in China’s investment in Australia to check the threshold, investment visa-free standard from 248 million Australian dollars adjusted to 1.078 billion Australian dollars.
To protect the legitimate rights and interests of investors, the agreement included investor – State Dispute Settlement Mechanism, and in the event of a dispute with the host country of investment, we will provide investors with full rights Remedies and strong system security, boosting investor Of confidence, to further lift the investors to worry about.
China-Australia FTA stipulates that the two countries will also carry out the second phase of investment negotiations, the specific situation?
The agreement incorporates the future working mechanism of the investment chapter, which will assess the effectiveness of the implementation of the agreement. The Chinese side promised to negotiate with the Australian side to further expand the investment market access and enhance the level of investment liberalization and facilitation of the two sides in accordance with the pre-entry national treatment plus negative list.
FTA signing date and Tax rate
- China – Georgia
- China – Australia
- China – South Korea
- China – Switzerland
- China – Iceland
- China – Costa Rica
- China – Peru
- China – Singapore
- China – New Zealand
- China – Chile
- China – Pakistan
- China – ASEAN
- China – Hong Kong – Macau
FTA process of negotiating
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- China – Japan and South Korea
- China – Sri Lanka
- China – Maldives
- China – Israel
- China – Norway
- China – Pakistan
- China – Singapore High grade
- China – New Zealand High grade
- China – Chile High grade