Spotlight: China Chamber of Commerce in Australia serves as "linchpin" connecting business communities of two countries

The China Chamber of Commerce in Australia marked a decade of building business ties between the two countries with a banquet on Tuesday evening in Sydney that befitted the growing importance of bilateral trade and investment.

About 500 top officials, business leaders and representatives from the public and private sector of both countries gathered at The Westin Sydney to celebrate the chamber's success as a major platform for Chinese enterprises in Australia for the past 10 years.

The chamber and its branches have "come a long way and done a great deal of commendable work", Cheng Jingye, Chinese ambassador to Australia, said in a speech at the event.

"The chamber has served as a linchpin connecting Chinese and Australian business communities, and promoted communications between the Chinese enterprises and the Australian governments at all levels," Cheng said.

The China Chamber of Commerce in Australia, a nonprofit organization jointly formed by trade associations representing Chinese investors in the country, has 289 members across New South Wales, Victoria, Western Australia and Queensland, with 127 members in its Sydney branch and 57 in its Melbourne one alone.

All its members form a major part of Chinese investment in Australia, covering industries ranging from energy and property to tourism and agriculture. The organization aims to provide services that include helping to protect members' legal rights and promoting the development of bilateral trade and economic exchanges.

The past decade of the chamber's work has witnessed "fantastic growth in China-Australia trade", Cheng said.

"In 2006, total trade between the two countries was 50.455 billion Australian dollars. In 2015 this figure grew to 155.5 billion Australian dollars. Foreign direct investment from China to Australia grew from 550 million Australian dollars in 2006 to 35.17 billion Australian dollars by 2015."

Australian Prime Minister Malcolm Turnbull, in a congratulatory message to the chamber, said the anniversary was "an occasion for pride and satisfaction", with the chamber's "many contributions over the past decade to the strong and growing economic ties between our two nations".

Last year, two-way trade flows between Australia and China reached nearly 150 billion Australian dollars, and the value of investment between the two countries was 145 billion Australian dollars, he said.

"China is Australia's largest trading partner, our largest goods and services export destination, and our largest source of goods imports."

"Such a fruitful relationship has been fostered through many years of patient business and personal cooperation, forged in a spirit of mutual respect and understanding," he said.

"In this, the China Chamber of Commerce in Australia has played a vital role in helping to nurture one of Australia's most important economic links, a relationship that is set to become even more significant."

Australian Trade, Tourism and Investment Minister Steven Ciobo, who was also speaking at the dinner, said Australia has welcomed Chinese investment, including major investments in Australian businesses as well as directly into Australian real estate.

"There are some great and positive success stories that flow from this investment and from the investment relationships that we have," Ciobo said.

The chamber's chairman, Hu Shanjun, who is also general manager and country head -- Australia, Bank of China, said his organization's members have also undertaken social responsibility projects to give back to local communities.

"Many members have incorporated charity into their social responsibility programs and are contributing significantly in improving local public facilities," he said.

Matt Thistlethwaite, Australia's Shadow Assistant Minister for Treasury, representing Bill Shorten, leader of the Opposition, said at the banquet that the key to maintaining the important relationship between Australia and China is that of cooperation, with the chamber poised to play a key role.

"Although China is our number one trading partner at the moment, we can't take that relationship for granted," he said.

"Australia is competing with many other nations who are seeking to source and to supply goods and services into the largest populace in the world. So there's more work to do ... and your organization will play a key role in promoting and supporting that work." Endit