On November 6, Chen Youqing, a member of the Party Leadership Group and Deputy Director of the Sichuan Provincial Department of Commerce, attended the signing ceremony for the strategic cooperation agreement between enterprises from Victoria State and Chinese partners at the 2024 China International Import Expo. Chen witnessed the signing of a Memorandum of Understanding (MOU) between Sichuan Pan-Asia Investment Development Corporation and Australia Biotechnology Group Pty Ltd (ABG), with a contract value of 50 million yuan.
Following the ceremony, Chen participated in the “2024 Victoria Friends Business Networking Gala,” where he engaged in friendly exchanges with the Victorian Government’s Special Commissioner to Greater China.
ABG, based in Victoria, Australia, is a health product manufacturer with over 100 products. The partnership aims to jointly promote the entry of Australian consumer products into the Chinese market.
In 2023, trade between Sichuan and Australia reached 48.55 billion yuan, a year-on-year increase of 34%, making Australia Sichuan’s fifth-largest trade partner. In recent years, Australian consumer products, including wine, beef, lamb, and dairy products, have been well-received in Sichuan, reflecting significant cooperation potential. The Department of Commerce will actively encourage Sichuan enterprises to expand imports of consumer goods and support Australian businesses in exploring the Sichuan market, thereby strengthening economic and trade exchanges further.
