WTO Economic Complementarity Economic relations and cooperation between Australia and China are built on a foundation of complementarity and a shared position in the Asia-Pacific region. Australia, rich in natural resources, has huge potential to provide China with the raw material it needs for its manufactured exports. As Australia's economy becomes more diversified, hi-tech manufactured goods and services have also a large market potential in China.
China is Australia's fourth largest trading partner.
Australia's importance to China as a trading partner is reflected in the quality of the trade. In recent years, there has been a strong increase in manufactured exports from Australia such as electrical machinery and appliances, and telecommunications equipment. Australia is also an increasingly important source for expertise in services - Australian banks, law, insurance, accountancy, information management and medical services firms are all active in China. The growth of two-way investment has been impressive. China ranks as the 14th largest investor in Australia.