Business forum held to deepen investment cooperation between New Zealand, China

AUCKLAND, New Zealand, Dec. 11 (Xinhua) -- Business people and government representatives gathered here on Monday for the Vision 2024 forum to deepen investment cooperation for a win-win development between New Zealand and China.

Noting that in the first three quarters of 2023, China's gross domestic product (GDP) grew 5.2 percent year-on-year, faster than most major economies in the world, Chinese Ambassador to New Zealand Wang Xiaolong said at the forum that such impressive growth has not come easily, given China's huge scale and a weak global economy.

Under such context, Wang pointed out that investment is one of the keys to successful business stories between the two countries.

China remains New Zealand's largest trading partner, exporting destination and importing source, according to the ambassador.

"New Zealand giants, like Fonterra and Zespri, as well as newcomers like Zuru and Les Mills, have harvested great returns from the Chinese market, and they showcase the potential of bilateral investment cooperation," Wang said.

"On China's part, companies like Haier, Yili, China Travel Service, China Construction Bank (CCB), Industrial and Commercial Bank of China (ICBC) and Bank of China (BOC), are well established and well recognized on the New Zealand market, contributing to the local economy, creating jobs, while being good corporate citizens by fulfilling their social responsibilities."

Noting that the forum is a signature event for China-New Zealand pragmatic business cooperation, Wang called on the New Zealand government to deepen cooperation with China and "to make the pie of common interests bigger."

Two handbooks, which have been compiled by the China Chamber of Commerce in New Zealand (CCCNZ) on investing in New Zealand and China respectively, were released at the forum to help businesses better understand the investment and business environment in both countries.

A CCCNZ survey released on Monday showed that its members' confidence in the global economy, New Zealand economy and Chinese economy turned a positive shift compared with the previous year.

The result was echoed by John McKinnon, chair of New Zealand China Council (NZCC), who visited China several times this year.

Mckinnon said that the recovery of Chinese economy in 2023 contributed significantly to global growth and New Zealand's economy as well.

The quick resumption of official visits in both directions demonstrated a strong desire for re-engagement, and the upward recovery of two-way links is unstoppable thanks to the resumption of direct flights between the two countries, he said.

McKinnon believed that when New Zealand's economy faces "stronger headwinds" in the years ahead, it is crucial to "find more ways to connect with China rather than to keep it apart."

New Zealand government ministers, members of parliament, representatives from Zespri, Tourism New Zealand, Les Mills, and Zuru, and board members from CCB (New Zealand) and ICBC (New Zealand) also expressed their expectations on trade cooperation between the two countries at the one-day forum.