China No Longer Just A Commodity Story - Luxon
China remains New Zealand’s biggest market, taking $23 billion of our exports, but it’s no longer a commodity story, says Prime Minister Christopher Luxon.
Speaking at the China Business Summit in Auckland this morning, Luxon emphasised that while China remained a key market for NZ exports, it was about building relationships around the world.
“It’s not about choosing one market over another because as a small trading nation, we are creating every market option: more options reduce risk and create opportunities,” Luxon says.
But he stressed that China – with a middle-income population of 500 million- remains a key market with huge opportunities for growth.
Luxon, who recently returned from a state visit to China, noted that NZ makes up only 0.3% of all China trade and sits outside the country’s top 40 trading partners.
But he says NZ products- including dairy, meat, fruit and seafood, are regarded as one of the best and safest in the world and well regarded by Chinese consumers. So, growing the China trade to 0.4% means a 25% increase in export revenues.
During his visit to China, Luxon met with top Chinese leaders including President Xi Jinping and Premier Li Qiang. He was also accorded a state banquet hosted by Jinping.
“It’s a big market and having connections at the top level is really important: we continue to build on those relationships,” says Luxon.
“China remains a very important part of our growth story. We continue to create opportunities for Kiwi exporters.
“Now is the time to continue momentum, unlocking more Chinese cities.”
