Business writing future of global relationships with China

SYDNEY – at a briefing here today, Stuart Gulliver, Group Chief Executive of HSBC, suggested that the future of global relationships with China was being written in part by the foreign business community.

“China’s relationship with the world – whether political, social, economic or financial – is currently in a period of extended transition,” he said. “Part of this transition, in the shape of economic, social and financial reform, is taking place inside China itself.

“But the other part, around trade openness, market access and pathways to renminbi internationalisation, is happening beyond China’s borders – in governments and boardrooms around the world.

“Nowhere is that more evident than here in Australia.

“Australia has used China’s momentum to propel its own economy more effectively than any other country in the OECD.

“The Australian Government has enabled this process where possible. But, fundamentally, the story of Australia’s economic relationship with China has been written by Australia’s businesses.” www.hsbc.com.au (ATI).