China the key market for international Australian SMEs: HSBC

SYDNEY - China is set to overtake the US as the key overseas trading partner for the Australian SME sector, with the majority importing from China rather than exporting to it, according to a survey by HSBC Australia. With China’s middle class expected to reach more than a billion people by 2030, HSBC says Australian SMEs should consider the consumer market opportunities in China rather than just seeing China purely as a manufacturing hub.