According to a report on the Australian Financial Review’s website on October 22, in the last six months, the proportion of company directors who called on the government led by Australian Prime Minister Scott Morrison to strengthen contacts with China Doubled, which shows that business leaders increasingly value the political and commercial relationship between Australia and its largest trading partner.
According to the latest survey conducted by the Australian Association of Company Directors on directors’ sentiments, 25% of directors believe that dealing with Asia, especially China, should be a priority for the government, compared with 13% six months ago.
The survey also found that directors’ views on economic recovery are slightly more optimistic than six months ago. Nearly 70% of directors said that they expect the economy to weaken next year, but the director sentiment index of the Australian Association of Company Directors shows that the overall sentiment that fell into a trough earlier this year has improved. Angus Amur, head of the Australian Association of Company Directors attributed the improvement in sentiment to the belief that (individuals and businesses) have better access to credit, increased investment in infrastructure, and China’s economic recovery.
Amur said: “People think that the Chinese economy will rebound faster than the rest of the world, which makes people’s views on the business environment more optimistic.”
The report pointed out that the need to strengthen contacts with Asia, especially China, has increased. This is the biggest change in the biannual survey conducted by the Australian Association of Company Directors. This is due to the bright prospects of the Chinese economy and the growing political and commercial relations between Australia and China.