(Yicai) June 17 -- China extended its unilateral visa-free policy to Australia today, as part of the country’s drive to boost inbound tourism and trade. The move was hailed as 'incredibly exciting' by the chair of the Australian Chamber of Commerce Shanghai.

"This is incredibly exciting for AustCham Shanghai and our members," Helen Dugan told Yicai. Business travelers from Australia no longer need to apply for visas when traveling to China and this sends a positive message that the two governments are supporting bilateral trade.

China, which has been Australia’s biggest trading partner for the past 15 years, is a huge market for Australian companies, Dugan said. Many Australian products including food and beverages as well as agricultural and healthcare products are very popular in China.

There has been a shift in the trade relations between the two nations in the past few years, Dugan said. More Chinese companies are trying to enter Australia, which has never happened before. Tie-ups between the two countries have expanded from food, drinks, agricultural and healthcare products to biotechnology, sustainable development and green energy.

Australia and China entered bilateral diplomatic relations more than 50 years ago. After a hiatus during the pandemic, institutions and agencies from both countries resumed exchanges and visits last year, Dugan said.

Trade in goods between the two nations climbed 4.1 percent last year from the previous year to USD229.2 billion, according to China’s Ministry of Commerce. Australia’s investment in China soared 11.7 percent over the period. And the number of Australia-funded firms set up in China last year surged 40.2 percent year on year to 635.

Editor: Kim Taylor