Aus­tralia places China high on in­no­va­tion agenda

The Pak Banker - - 6BUSINESS -

Aus­tralia is plac­ing China high on its in­no­va­tion agenda, as part of its plans to boost in­no­va­tion. The Aus­tralian govern­ment an­nounced plans last month to es­tab­lish an in­no­va­tion hub for en­trepreneurs in Shang­hai.

China was al­ways go­ing to be a log­i­cal place to cre­ate one and it's great to see the govern­ment think­ing be­yond min­ing, en­ergy, agri­cul­ture and education, which have formed the ba­sis of the trade re­la­tion­ship be­tween China and Aus­tralia, said Aus­tralia Cham­ber of Com­merce Chair Tracy Col­gan.

"Some have ques­tioned what Aus­tralia has to add to this highly in­no­va­tive and com­pet­i­tive mar­ket­place in China," Col­gan said.

"It's a good point, and any­one who has spent time in China will no­tice how far ahead in adopt­ing tech­nol­ogy this mar­ket is when com­pared to Aus­tralia."

"I can pay for veg­eta­bles at a street mar­ket in Bei­jing with my smart­phone us­ing WeChat."

Col­gan noted how­ever that Shang­hai was the wrong lo­ca­tion for the hub.

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