Australia China Business Review :: Issue 04

WWW.ACBR.COM.AU • JANUARY/FEBRUARY 2018 • ISSUE 04

2018年一月/二月 · 第4期

New chapter China agreements to underpin new WA mines Page 8 新篇章

中方协议撑门拄户 西澳矿业迎来新曙光 第8页

Greener China Clean energy push important for business Page 20 绿色中国

清洁能源大力推进双边贸易 第20页

Fruit exports SPC the latest to join gourmet race Page 22 水果出口生意经

SPC： “中国竞赛”新面孔 第22页

Vanadium’s resurgence Battery-makers lift price of steelmaking ingredient Page 24 钒矿卷土重来

钢价上涨的“幕后推手” ：电池制造商？ 第24页

Qiu Liang Xin Executive Chairman China Wu Yi Photo: Philip Gostelow 丘亮新 中国武夷实业执行主席 照片：Philip Gostelow

Leading edge

One of Fuzhou’s most innovative companies hopes to transform construction in Australia

前沿领域

中国巨头致力协助澳大利 亚建筑业改革

Sal Salis, Ningaloo Reef Near Exmouth Photo: Tourism WA

TUESDAY 27 FE BR U ARY 20 1 8 | 1 1 AM - 2 PM | PA N PA C I F I C P E RT H

CEDA’s annual flagship event, the Economic and Political Overview 2018 will focus on Asian engagement in WA. With some of WA’s strongest economic and cultural advantages coming from its proximity to Asia, speakers will look at opportunities to promote WA trade and investment and highlight existing engagement activities within government and business.

MEET THE KEYNOTE SPEAKER The Hon. Bill Johnston WA Minister for Mines and Petroleum; Commerce and Industrial Relations; Electoral Affairs; Asian Engagement, Member for Cannington

MEET THE SPEAKERS Michael Blythe

Tracey Horton

Chief Economist and Managing Director, Economics Commonwealth Bank of Australia

Chairman, Navitas

Mukund Narayanamurti

Rick Newnham

Chief Executive Officer AsiaLink Business

Chief Economist Chamber of Commerce and Industry of WA

REGISTER NOW VI SI T CE DA . C O M.A U O R CA L L (08) 9226 4799

CONTENTS | 目录

contents 目录

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14 Cover story | 封面故事

14 Leading edge

One of Fuzhou’s most innovative companies hopes to transform construction in Australia

前沿领域 中国巨头致力协助澳大利亚建筑业改革

From the editor’s desk | 主编的话 7

2018 promises new era of economic cooperation 旺狗贺岁—澳 中经济合作新篇章

News | 新闻

12 Special visas back on table for wealthy investors

中国投资者的新希望——投资签证重现舞台

Economics | 经济

32 Made in China to power 2018 growth

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AUSTRALIA CHINA BUSINESS REVIEW | 澳中商讯

中国制造主宰2018年经济趋势

目录

| CONTENTS

22 24 Agribusiness | 农商

Opinion | 观点

22 Aussie fruit ripe for gourmet palates

20 Get ready to do business with greener China

Resources | 能源

34 China shipping goes green

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可口的澳洲水果深受美食家青睐

China companies open next chapter on WA mines 中国企业开启西澳矿业新篇章 钒电池：储能行业升起新秀

佳酿管家Cellr Door

30 How Tencent became the most valuable social network firm – with barely any advertising

无需广告加持，且看腾讯如何成为最高市值的社交网 络公司

WWW.ACBR.COM.AU

中国航运业向绿色转型

2018经济形势：治乱绳，不可急

38 Belt and Road can open up Mid West “一带一路”开辟中西部新发展

40 Top tips to connect with Chinese consumers

28 From the Cellr door – there’s no accounting for taste

Technology | 科技

中国拥抱绿色生活 各国企业摩厉以须

36 Tackling big economic hurdles in 2018

24 Vanadium arcs up on battery potential

如何与中国消费者建立联系

Picture Story | 图画故事

42 45th anniversary of diplomatic relations between Australia and China gala dinner

驻珀斯总领馆举行中澳建交45周年招待会

2018年一月/二月 | JANUARY/FEBRUARY 2018

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Publisher DDK IN THE ZONE PTY LTD trading as Australia China Business Review Editor in chief Dan Wilkie

主编: 丹•威尔基

E: dan.wilkie@acbr.com.au

from the

Managing director Ken Meng

董事总经理: 孟敬亭

E: ken.meng@acbr.com.au Graphic design GRAFFIK www.graffik.com.au Printing Daniels Printing Craftsmen www.danielspc.com.au AUSTRALIA CHINA BUSINESS REVIEW 澳中商讯

PH: (08) 6216 9899 www.acbr.com.au Postal Address Unit 2c, 330 Churchill Avenue Subiaco, Western Australia 6008

Disclaimer While all care has been taken to ensure the information included in this publication is accurate and has come from sources deemed to be reliable, Australia China Business Review takes no responsibility, unless expressly indicated, for any inaccuracies. Inclusion of opinions, statements and comments does not constitute endorsement by Australia China Business Review.

Content within this publication is protected by Australian copyright law and may not be reproduced without express written permission by Australia China Business Review. 免责声明: Australia China Business Review已经采取所有措施来确保本刊 物所包含的信息是准确的，而且是来自 确认可靠的消息来源，除非明确指出，对 于任何不准确的信息Australia China Business Review 不负任何责任。刊物 中意见、声明和评论不代表 Australia China Business Review 立场。 本刊 物的内容受澳大利亚版权法保护，未经 Australia China Business Review 的书面许可，不得转载 6

AUSTRALIA CHINA BUSINESS REVIEW | 澳中商讯

DAN WILKIE | 丹·威尔基

旺狗贺岁—澳

2018 promise IT is not yet officially the Year of the Dog, but 2018 has launched with a lot of promise for Australia-China business relations.

Australia’s economic prospects have never been more strongly linked to another country, as we enter the 46th year of diplomatic relations with China.

In 2017, no country received more Australian exports than China, while in the Year of China-Australia Tourism Chinese visitors ranked only behind New Zealand for arrivals in Australia.

China’s rapid growth and industrialisation over the past 30 years has helped create some of Australia’s biggest and most successful companies and, if the first few weeks of the year are any indication, it is within the realm of possibility for several more to emerge in coming years.

The potential for a new, closer era of economic cooperation has been illustrated by a series of partnerships and agreements unveiled in recent weeks.

In the mining sector, no less than three new mines could be under way in coming years as a result of collaboration between Western Australian juniors and large Chinese conglomerates, suggesting the state’s status as a bulk commodity supplier to China will only be solidified in coming years, rather than eroded.

Agribusiness links are also growing, with iconic manufacturer SPC the latest Australian player to launch a China expansion, under

主编的话

| FROM THE EDITOR’S DESK

editor’s desk 主编的话

中经济合作新篇章

s new era of economic cooperation an agreement with state-owned China State Farm Agriculture Shanghai.

And in the property sector, one of WA’s oldest home-grown building companies, Doric, is launching an international expansion strategy with the help of one of China’s biggest players in manufacturing, construction and development, China Wu Yi. China’s Belt and Road Initiative, while not yet fully embraced by Australian governments or business, looms large as the next big opportunity to enhance economic ties.

The new alignments build on a rich history of economic collaboration between WA and China, but come at a time when public debate is raging over Australia’s foreign policy, and the appropriateness of China’s influence on Australian politics, education and business.

The federal government’s early December introduction of new Foreign Interference legislation sparked calls from critics claiming that China is subversively seeking control of the lucky country.

Debate intensified following Senator Sam Dastyari’s resignation over improper business relationships with Chinese links, while China’s Canberra embassy accused Australia’s mainstream media of creating “anti-China hysteria”.

But as we approach the start of the Year of the Dog, it would perhaps be timely to recognise the importance of a loyal, friendly relationship with China, not just for global security, but also for Australia’s continued economic prosperity.

WWW.ACBR.COM.AU

目前虽然还未正式跨入狗年，但随着2018 年的到来，中澳在经济领域的合作愈加充满 希望。

中澳建立外交关系的第46年，澳大利亚的经 济发展前景与中国密切相关，可以说这种情 况在澳大利亚的外交史上前所未有。

2017年，中国在澳大利亚的出口总额排行中 遥遥领先。与此同时，在“中澳旅游年”中，访 澳的中国游客数量仅次于新西兰。

在过去30年中，中国的急速发展和工业化进 程成就了一大批澳大利亚最具规模和最为 成功的企业。种种迹象表明，在未来几年中， 持续出现更多类似企业的可能性非常之大。 在最近几周，一系列伙伴关系的建立和协议 的签署，预示着中澳全新的、更密切的经济 合作时代即将到来。 在矿业领域，至少有三个新矿将会在未来几 年中启用。这些新矿是西澳大利亚企业与中 国大型联合企业的合作项目。这些项目也预 示着，在未来几年中，西澳大利亚州对中国 大宗商品的供应将只增不减。

虽然中国的“一带一路”倡议没有被澳大利 亚政府和公司完全接受，但是，这无疑是下 一个增强中澳经济合作的重大机会。

西澳大利亚和中国之间的新型盟友关系，有 丰富的合作经验作为基础。然而，目前澳大 利亚民众对本国的外交政策争议颇多，对中 国在政治、教育、及商业领域给澳大利亚施 加的影响更是颇为不满。

联邦政府于12月初出台新法案，防止外国势 力干涉内政，引发了大规模的争议。一些评 论者认为，中国正在尝试大规模地开展对澳 大利亚的控制。 参议员邓森（Sam Dastyari）因与中国存 在不正当的商业关系引咎辞职，伺此后，有 关方面的争议随之升级。对此，中国驻堪培 拉大使指责澳大利亚主流媒体制造“反华” 情绪。

随着狗年的临近，也许是时候认识到与中国 建立稳定、友好关系的重要性。这不仅仅关 乎国际安全，还对于澳大利亚经济的持续繁 荣至关重要。

近期，中澳在农业综合经营方面的联系也日 益紧密。随着与中国国有企业——中国农垦 上海公司协议的签署，澳大利亚制造商SPC 近日开始开拓中国市场。

在房地产领域，西澳大利亚最具历史的本土 建筑公司之一Doric在中国武夷实业的协助 下，正在开展全球范围内的扩张策略。

2018年一月/二月 | JANUARY/FEBRUARY 2018

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RESOURCES | 能源

中国企业开启西澳矿业新篇章

China companies open next chapter on WA mines 本刊记者 : Staff reporter

WESTERN Australia’s mining industry has received a China-backed New Year’s boost, with announcements of progress on deals that could underpin the development of the state’s next iron ore, mineral sands and zinc mines.

In the Pilbara, global iron ore trading house Sinosteel Corporation signed a memorandum of understanding in early January with mining group BCI Minerals to explore a possible joint venture and offtake arrangement over the Buckland iron ore mine and port proposal.

Sinosteel and BCI will also discuss the possibility of Sinosteel Equipment and Engineering Co providing engineering services for the proposal, which comprises mining operations over three separate deposits, as well as a haul road connecting the mine to a newly developed port at Cape Preston East.

If formal joint venture arrangements were made, it would be Sinosteel’s second major investment in WA, adding to its highly successful Channar joint venture with Rio Tinto.

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AUSTRALIA CHINA BUSINESS REVIEW | 澳中商讯

The Channar joint venture is approaching the end of its mine life past 2020, so the BCI MOU is a strong indication Sinosteel is looking to secure additional sources of supply to underpin its future business.

BCI is midway through a drilling program at the project’s Kumina deposit, which is expected to define a mineral resource by the end of March.

The company is also undertaking a study to integrate Kumina with two other deposits, Bungaroo South and Cape Preston East, which is expected to be completed by the end of June.

A final investment decision is targeted for early next year, with BCI seeking to secure a joint venture partner and offtake arrangements, as well as a contracting and procurement strategy, before the end of 2018.

BCI managing director Alwyn Vorster said formal arrangements with Sinosteel could be reached before the end of the year.

“Involving a credible and experienced partner such as Sinosteel provides momentum to the development of the Buckland project,” Mr Vorster said in a statement.

“Sinosteel has a long and successful history

LINKED Bungaroo South deposit is one of several deposits that will be mined at BCI Minerals’ Buckland operation. Photo: BCI Minerals 联系紧密 南邦格鲁（Bungaroo South） 矿藏是BCI矿业公司即将在巴克兰 （Buckland）矿区开采的三大铁矿石矿藏 之一。照片来源：BCI矿业公司

新年伊始，西澳州的矿产领域业已在中国 的支持下注入新的活力。随着诸多协议的 顺利进行，西澳的铁矿，矿砂和锌矿等开发 项目获得大力支持。

在皮尔巴拉（Pilbara）地区，全球铁矿 石贸易商中国中钢集团公司（Sinosteel Corporation，以下简称中钢集团）于一 月初与BCI矿业公司（BCI Minerals， 以下简称BCI公司）签订了谅解备忘录， 以探索合资项目的发展可能，并对巴克兰 （Buckland）铁矿区的承购和港口提案进 行协商。

中钢集团还将和BCI公司讨论与中钢设 备工程公司（Sinosteel Equipment and Engineering Co）的合作事宜。决定是 否由中钢设备工程公司提供工程服务，包 括在三个矿山进行开采活动，以及修筑运 料路以连通矿区和新开发的东普林斯顿 （Cape Preston East）港口。

若合资协议正式通过，这将是中钢集团在 西澳的第二大投资项目，仅次于与力拓集团 （Rio Tinto）合作的卓有成效的恰那项目 （Channar）。 恰那合资项目中的矿区即将在2020年迎来

of partnering in Pilbara iron ore projects and we look forward to working with them to ensure that potential joint venture, offtake, development and funding arrangements can be progressed in a mutually beneficial manner.”

The Sinosteel-BCI MOU was followed by the ratification of a similar arrangement between China Minmetals subsidiary China ENFI Engineering and Diatreme Resources.

Brisbane-based Diatreme is advancing the development of the Cyclone zircon project near the WA-South Australian border, and struck an MOU with ENFI to explore opportunities in September last year.

China Minmetals is one of the country’s largest state-owned enterprises involved in mining services, with more than ¥1.6 trillion ($314 billion) in total assets.

In January, Diatreme announced the MOU had progressed to two formal agreements, with ENFI to use its network among China’s state-owned enterprises and banking sectors to assist in sourcing project investment, offtake agreements and debt funding.

ENFI and Diatreme signed a consulting services agreement, with the Chinese engineering group to complete the Cyclone zircon project’s definitive feasibility study, including project costings, engineering studies and implementation planning.

Junior mining play Metalicity is progressing development of its Admiral Bay zinc project in the north-west of WA with the assistance of a Chinese state-owned enterprise.

Metalicity signed an MOU with China NonFerrous Metals early last year, and announced in January the completion of a detailed review into the technical and financial parameters of the Admiral Bay project.

China NFC, a subsidiary of China Minmetals, will complete a project study report on the project, a key document required to comply with financing requirements of Chinese banks.

Metalicity managing director Matt Gauci said the project study was anticipated to significantly reduce the capital and operating costs of the project, accelerate its development timeline and support a binding financing and development agreement.

“The positive review supporting the MOC with China NFC and combined with successful metallurgical test work supporting the MOU with China Minmetals, established a very strong framework for the feasibility, development, financing and offtake agreement with China’s largest and most credible engineering, resources, mining and metals groups in the zinc sector,” Mr Gauci said in a statement to the ASX. If the mines all go ahead, they would add to a long history of China-backed developments in WA’s mining sector, which have made considerable contributions to the local economy.

Sinosteel’s Channar joint venture with global miner Rio Tinto has been well documented as a model of Australia-China business relations, WWW.ACBR.COM.AU

矿藏生命的尾声，因此中钢集团需要争取 其他矿区以支撑企业未来的发展，而此次 与BCI公司签订的谅解备忘录正是中钢集 团采取行动的强有力证明。

能源

| RESOURCES

BCI公司目前正在对该项目中的库米娜 （Kumina）矿藏进行开采，并有望于三月 底探明矿藏资源类型。

与此同时，BCI公司正在研究如何将库米娜 矿藏与南邦格鲁（Bungaroo South）矿藏 及东普林斯顿（Cape Preston East）矿藏 整合起来进行开发。这一研究预计将于六 月底完成。 最终的投资决定有望于明年年初达成，届 时BCI公司将与合资伙伴于2018年年底之 前签订承购协议，制定合同和采购战略。

BCI公司的董事总经理埃尔文·福斯特 （Alwyn Vorster）表示，与中钢集团的正 式合同将于今年年底前正式签订。

“与中钢集团这样值得信赖且经验丰富 的企业合作，无疑是推动巴克兰项目发展 的强劲动力。”福斯特先生在一份声明中 说道。

TEAMWORK Metalicity is advancing plans to develop its Admiral Bay Zinc project in cooperation with China Non-Ferrous Metals. Photo: Metalicity

继中钢集团与BCI公司签订谅解备忘录之 后，中国五矿集团（China Minmetals） 旗下的子公司中国恩菲工程技术有限公司 （China ENFI Engineering，以下简称 中国恩菲公司）与Diatreme资源公司亦签 署了相似协议。

业集团将完成该项目的研究报告，以达到 中国各银行在财务方面的要求。

“中钢集团在皮尔巴拉铁矿的合资项目历 时悠久，成果斐然，因此我们十分期待与中 钢集团进行合作，在合资项目，承购协议， 开发安排，以及资金支持等方面实现互利 共赢的局面。”

总部位于布里斯班（Brisbane）的 Diatreme公司目前正在西澳与南澳交界 处附近开展Cyclone锆石项目，并已于去 年9月与中国恩菲公司签订谅解备忘录。

中国五矿集团是中国矿产服务领域最大的 国有企业之一，其总资产超过1.6万亿人民 币（3140亿澳元）。

一月份，Diatreme公司宣布与中国恩菲公 司签订的谅解备忘录已经进展至两个正式 协议阶段。中国恩菲公司将利用其在中国 国有企业中的关系网络，并争取银行部门 的支持，为项目寻求潜在投资和承销方案， 并吸引债务融资。 中国恩菲公司与Diatreme公司签订 了咨询服务协议，中方工程团队将完成 Cyclone锆石项目的最终可行性研究，包 括项目成本，经济学研究，和实施计划等。 资浅矿业公司Metalicity在一家中国 国有企业的协助下，对西澳西北地区的 Admiral Bay锌矿项目进行开发。

去年年初，Metalicity公司与中国有色矿 业集团（China Non-Ferrous Metals）签 署谅解备忘录，并于1月宣布已对Admiral Bay项目的技术及财务参数进行了详细检 测。

团队合作 Metalicity矿业公司推进与中国 五矿集团的Admiral Bay锌矿合作项目。照 片来源：Metalicity矿业公司

Metalicity公司的董事总经理马特·高琦 （Matt Gauci）表示，预计该项目的研究 报告将显著降低项目的资金及运营成本， 加快开发周期，并促进财务及开发协议的 达成。

“报告结果积极正面，有助于与中国有色 金属集团签署谅解备忘录，而冶金测试亦 喜获成功，进一步支持了与中国五矿集团 之间的谅解备忘录。在与中国锌矿领域最 大且最值得信赖的工程、资源、矿产及金属 集团进行合作的过程中，这些因素共同作 用，为项目可行性，开发计划，财务管理，以 及承购协议等方面提供了一个牢固坚韧的 框架。”在递交至澳交所的声明中高琦先生 如是说道。 如若所有的矿区项目顺利进展，这将延续 中国支持西澳矿业领域发展的悠久历史。 毋庸置疑，中国对西澳的经济发展贡献良 多。

中钢集团与国际矿业公司力拓集团的恰那 合资项目如今已历经三十载春秋，创下了 互惠互利，双赢合作的佳话，堪称中澳商业 合作的典范。

尽管对中信泰富矿业公司（CITIC Pacific Mining）而言，中澳铁矿项目（Sino Iron） 可谓是一次昂贵的尝试，但另一方面，这一 位于皮尔巴拉地区的磁铁矿项目也可能带 来巨大的影响力。

作为中国五矿集团的子公司，中国有色矿

一直以来，中澳铁矿项目以其面临 的挑战而备受瞩目。一场与昆士兰州

2018年一月/二月 | JANUARY/FEBRUARY 2018

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RESOURCES | 能源 COOPERATION Nev Power told attendees at December’s Australia China Business Cooperation Forum that FMG was a model of China-Australia business relations.

Photo: ACBCF 携手共进 尼弗·鲍尔（Nev Power）在去 年12月的中澳经贸合作论坛（Australia China Business Cooperation Forum，ACBCF）上表示，FMG集团是中 澳商业合作的典范。照片来源：中澳经贸合 作论坛

with a 30-year history of mutually beneficial cooperation.

And while Sino Iron has been an expensive exercise for CITIC Pacific Mining, the Pilbara magnetite project has the potential to deliver a similar impact.

Much of the focus on Sino Iron has been on its challenges – major cost blowouts and a lengthy court battle with Queensland businessman Clive Palmer, which culminated in the Supreme Court of Western Australia ordering CITIC to pay up to $US149 million in unpaid royalties late last year.

However, a Deloitte Access Economics report into the project released in December indicated Australia’s largest magnetite mine would deliver enormous value for WA. The report estimated the mine would contribute more than $100 billion in export earnings for the state over its planned 40-year mine life, along with more than $8.7 billion in wages paid to WA workers.

More than $5 billion in royalties to the state government are expected to be paid over the life of the project, which employs more than 1,500 people directly, along with 1,100 fulltime contractors.

CITIC is also expected to spend about $51 billion procuring WA goods and services for the mine in coming years, the report said.

Sino Iron last year achieved its production target of 16 million tonnes of magnetite concentrate, as the mine ramps up to its nameplate capacity, The Deloitte report said CITIC’s investments also underpinned the development of new energy infrastructure in the Pilbara, including the Devil Creek gas processing hub and DBP Development Group’s proposed Tubridgi gas storage facility near Onslow.

CITIC Pacific Mining chief executive Chen Zeng said the company was proud to deliver such a considerable economic benefit through its operations.

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AUSTRALIA CHINA BUSINESS REVIEW | 澳中商讯

“Our challenges are well known,” Mr Zeng said.

“We remain focused on doing everything we can to place Sino Iron on a financially stable footing, to ensure the project reaches its full potential for the benefit of all.

“We will only be able to achieve this through better partnerships.”

WA’s biggest home-grown iron ore miner, Fortescue Metals Group, also owes its success to its partnerships with Chinese state-owned enterprises.

Speaking at the Belt and Road Industrial and Commercial Alliance hosted by the Australia China Business Cooperation Forum in Perth in December, departing FMG chief executive Nev Power said the rapid development of the company into an iron ore powerhouse could not have occurred without collaboration with China.

Mr Power said FMG was founded as a concept in 2003, achieving first production of ore in 2008.

Today, FMG ships around 170 million tonnes of Pilbara iron ore to China every year, with nearly 1 billion tonnes of ore exported so far.

In total, FMG ships around 17 per cent of China’s seaborne iron ore needs, while Mr Power said procurement contracts covering major mining and rail equipment totalled more than $1 billion.

“We have focused very much in our marketing strategy to try and complement the supply that has come from domestic Chinese mines and from other seaborne producers,” Mr Power told the forum.

“China today produces around 50 per cent of the world’s steel and has been one of the fastest-growing steel producing countries in the world.

“Therefore, we have worked very closely with a very wide range of customers throughout the Chinese steel industry to

identify their needs and to produce the iron ore to meet those needs.

“In particular, we have focused very much on high-value products, which have very low impurities and therefore very low emissions when they are consumed in the steel mills.

“This strongly supports China’s move towards improved air quality and improved efficiency across all of their industries, including the steel industry.”

Chinese state-owned enterprise Hunan Valin Steel was an early investor in FMG, taking a 15 per cent equity stake in the company shortly after it was founded.

“This has been acclaimed as one of the most successful international investments by a Chinese SOE steel company,” Mr Power said.

“This has been a great win-win relationship because Hunan Valin have been a major customer and provide trials of our products in addition to being a major investor in the company.”

It is those win-win relationships that have been the key to FMG’s China success, Mr Power said.

“We think that it is most important that both sides are benefiting from the relationship, because any relationship that is one-sided can’t last very long,” he said.

“We have also embraced a very broad industry and government engagement throughout China … to make sure that a broader section of the economy understood our business and how we were trying to approach China.

“I would say our key success has been in the level of engagement that we’ve had with the Chinese steel industry, but more broadly with the Chinese manufacturing industry and with the government sector in China.”

Mr Power expected China’s Belt and Road Initiative to provide considerable new opportunities for Australia-China business development, particularly in the steel manufacturing and iron ore industries.

“The Belt and Road project will accelerate the growth of these economies which trade with China to ensure that the demand for iron ore and raw materials is going to be needed for decades to come,” he said.

能源

| RESOURCES

We have worked very closely with a very wide range of customers throughout the Chinese steel industry to identify their needs and to produce the iron ore to meet those needs – Nev Power 我们与中国钢铁行业的诸多客户密切合作，以期更好地了解客户需求， 并生产出符合需求的铁矿石。——尼弗·鲍尔（Nev Power）

（Queensland）商人克莱夫·帕尔默 （Clive Palmer）的官司旷日持久，代价高 昂。最终，西澳最高法庭于去年年底判决中 信泰富矿业公司偿还高达1.49亿美元的未 缴纳税款。

但是就在去年12月，德勤经济研究所 （Deloitte Access Economics）发布了针 对该项目的报告，指出这一澳大利亚最大的 磁铁矿藏将为西澳经济带来巨大价值。 据报告预测，该矿藏将在其40年的服务年 限中为西澳州带来超过1000亿澳元的出口 收益，并且将为西澳工人带来超过87亿澳 元的工资收入。

在项目开展过程中，预计将直接雇用1600 余名员工，以及1100名全职承包商。在此期 间，西澳州政府共计将收到超过50亿澳元 的税款。 报告预估在未来几年中，中信泰富矿业公 司还将花费约510亿澳元用于为矿山购买 西澳产品和服务。

去年，皮尔巴拉磁铁矿山产能提升，达到预 计产量，中澳铁矿项目随之实现了1500万 吨磁铁精矿的生产目标。 德勤报告称，中信泰富矿业公司的投资 还推动了皮尔巴拉地区新能源基础设施 的发展，其中包括Devil Creek天然气 处理中心，以及在DBP开发集团（DBP Development Group）的提议下建立在 昂斯洛（Onslow）附近的Tubridgi天然气 存储设备。

中信泰富矿业公司首席执行官曾晨表示， 能通过项目运营带来如此巨大的经济利 益，中信泰富感到十分荣幸。

“我们面临的挑战众所周知。”曾先生说道。 “但是为了确保项目发挥全部潜能，惠及 各方，我们一直尽其所能为中澳铁矿项目 提供稳定的财务基础。” “只有实现更好的合作关系，我们才能真 正达成这一目标。”

西澳最大的本地铁矿企业FMG集团 （Fortescue Metals Group）同样将其成 功归功于与中国国有企业的合作。

去年12月，中澳经贸合作论坛 （the Australia China Business Cooperation Forum）在珀斯举行一带 一路工商协会联盟（the Belt and Road Industrial and Commercial Alliance） 的签约仪式。FMG集团前任首席执行官尼 弗·鲍尔（Nev Power）在该仪式上发表讲 话，他指出如果没有与中国进行合作，FMG WWW.ACBR.COM.AU

集团不会如此迅速地发展为行业巨头。

鲍尔先生表示，FMG集团成立于2003年， 并于2008年实现了首次矿石生产。

如今FMG集团每年从皮尔巴拉地区向中国 输送约1.7亿吨铁矿石。迄今为止，FMG集 团出口的铁矿石总量约有近10亿吨。 总体而言，FMG集团向中国输送的铁矿石 占中国海运进口铁矿石总量的17%左右。 鲍尔先生还表示，采购合同涵盖了主要采 矿设备和铁路设施的购置协议，总体价值 超过10亿澳元。

“我们注重调整营销战略，在中国国内矿 山及其他海外生产商无法满足需求的情况 下补足供给。”鲍尔先生向中澳经贸合作论 坛解释道。 “如今中国的钢铁生产量占全世界生产量 的一半之多。中国无疑是全球发展最快的 钢铁生产国之一。”

“因此我们与中国钢铁行业的诸多客户密 切合作，以期更好地了解客户需求，并生产 出符合需求的铁矿石。” “此外，我们对高价产品尤为关注。这些产 品包含的杂质微乎其微，因此在炼钢厂中 进行锻造时能够实现极低的排放量。”

“现在中国正在努力改善空气质量，提高 各行业，包括钢铁行业的效率。因此，聚焦 高价产品正是对这一新措施的大力支持。” 中国国有企业湖南华菱钢铁集团（Hunan Valin Steel）是FMG集团的早期投资者，在 FMG集团成立之初便购买了15%的股份。

“这一投资被誉为中国国有钢铁企业最成 功的国际投资之一。”鲍尔先生表示。

IMPORT-EXPORT The iron ore shiploading facilities at FMG’s Herb Elliott Port were manufactured in China. Photo: FMG 礼尚往来：FMG集团的Herb Elliott港口 铁矿货船装载设施均为中国制造。照片来 源：FMG集团

“湖南华菱钢铁集团不仅是FMG集团的主 要投资者，更是一位提供产品试用的重要 客户。双方建立了合作共赢的伙伴关系。”

正是这一合作双赢的关系帮助FMG集团在 中国大获成功，鲍尔先生满是欣喜。

“我们相信，在合作过程中最重要的就是 双方都能从中受益，因为一边倒的关系是 不可能长久维系的。”他如是说道。

“为了让不同领域的中国产业了解FMG集 团，以及公司为了进入中国做出的不懈努 力，我们在各行业中积极拓展关系，并与中 国的政府部门通力合作。” “我认为我们成功的秘诀不仅在于与中国 钢铁企业的密切合作，更有赖于我们与中 国的制造业以及政府部门的紧密联系。”

鲍尔先生期待中国的“一带一路”倡议能为 澳中经贸发展，尤其是钢铁制造和铁矿石 行业提供大量新的机遇。

“与中国进行贸易的经济体将受到‘一带 一路’倡议的影响，加速自身经济发展，以 满足未来几十年中国的铁矿石和其他原材 料的需求。”鲍尔先生满怀希望。 2018年一月/二月 | JANUARY/FEBRUARY 2018

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NEWS | 新闻

中国投资者的新希望——投资签 证重现舞台

Special visas back on table for wealthy investors 作者 : Dan Wilkie JUST over three years ago, the federal government’s Significant Investor Visa was being embraced by Chinese nationals and hailed as a highlight of Australia’s immigration program.

Introduced in 2012 to attract more highnet-worth individuals and stimulate the economy, the visa offered permanent residency in Australia to individuals willing to invest $5 million into complying investments.

The visa, part of the federal government’s Business Innovation and Investment Program, rapidly became popular among Chinese nationals, with the numbers of applications from Chinese citizens rising from 285 in 201213, to peak at 1,393 in 2014-15 – potentially funnelling more than $6.9 billion into Australia if all the applications were approved.

However, in late 2014, the federal government announced changes to the regime, introducing regulations on the types of investments SIV applicants could make.

Prior to the changes, successful SIV applicants had the choice to invest in a proprietary limited company, a government bond or a managed fund.

From July 1, 2015, that framework was scrapped, with SIV applicants no longer offered bonds or allowed to invest in private companies, and instead forced to take a passive investment in a managed fund, with at least 10 per cent of the investment required to be in venture capital.

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AUSTRALIA CHINA BUSINESS REVIEW | 澳中商讯

The number of applicants from China plummeted, falling to just 180 in 2015-16, according to data released by the Department of Immigration and Border Protection under the Freedom of Information Act. In 2016-17, the numbers of applications rebounded to 370, but were still more than 1,000 lower than the peak in 2015.

Migration Institute of Australia WA president James Clarke said many in the migration industry had warned the federal government during consultation that the changes would turn away Chinese investors.

“The word for venture capital in Chinese is literally ‘risk investment’,” Mr Clarke told Australia China Business Review.

“They’re not ready for it.

“The current structure and the settings are made for a mature and a sophisticated investor, probably more tailored to someone who is from Singapore, or from Malaysia or maybe from Hong Kong, but not from the Chinese mainland.

“I say that because you now must invest into very sophisticated financial products, whereas before applicants could put money into a company or a government bond and could manage the company or just leave it in the government bond.

“Now SIVs have to choose from a suite of very sophisticated products and asset classes.”

Mr Clarke said he was concerned the program was derailed as result of political pressure that emerged in 2015 in New South Wales, with widespread commentary blaming

Chinese investors for driving up property prices in Sydney.

“The SIV had nothing to do with that, but it was used to a political end to toughen up on Chinese investment,” he said.

While acknowledging the visa changes had driven away scores of investors, Vantage Asset Management managing director Michael Tobin said the framework revamp was not all bad.

Mr Tobin said the original SIV regime had been plagued by rorting, with anecdotal evidence showing some investors were putting up the $5 million only to have it returned to them shortly after in ‘loan-back’ arrangements.

“The numbers have diminished but that is a result of the fact that a lot of the charlatans have been ruled out of the industry and now the ones that understand it will be the ones that actually provide benefit to the Australian economy,” Mr Tobin said.

“It gives much more protection for the applicant.

“Had it continued the way it was with all the rorting going on, there would have been a lot of non-complying funds, a lot of money lost and Australia’s reputation in the global financial industry would have been quite poor.”

Mr Tobin said following the changes, Vantage, which specialises in private equity investment for individuals, structured its newest fund to be SIV compliant.

By allowing SIV applicants to invest in a compliant fund that was only exposed to private equity, rather than traditional venture capital, the perception of risk was greatly reduced, he said.

“The beauty of the space is you can invest in profitable companies in a traditional private equity manner,” Mr Tobin said.

“Our funds don’t invest in any startups, we only invest in profitable companies with proven products and services and it’s by institutional funds that otherwise don’t raise money from SIVs at all, or individuals.”

Vantage has launched a new SIV compliant fund in partnership with Perth-based 3 Oceans Capital, which has an extensive network of high-net-worth individuals in China interested in migrating to Australia.

“Forming the JV with 3 Oceans is a great opportunity to tap into a source of capital that we otherwise wouldn’t have access to,” Mr Tobin said.

“Whereas traditional Chinese SIVs might have seen the venture capital piece as the riskiest, once we educate them that we’re not investing in startups and that we’re investing in profitable companies and assisting them to grow their earnings, they understand and feel comfortable that they’re not going to lose money from this particular segment.

“For us, and with 3 Oceans moving forward, it is an opportunity to provide the SIVs with a pathway to profit from this investment.

“It’s definitely a complying investment and will give them their visa after four years, but it

新闻 also gives them the opportunity to build some wealth in an area that consistently produces stronger returns than property, bonds and listed markets.”

3 Oceans Capital general manager Sophie Chen said the company had already made significant progress in its efforts to attract Chinese high-net-worth individuals to invest in the 3 Oceans fund.

“We have long-term relationships with strategic business partners across four major

约在三年前，联邦政府推出的显赫投资者 签证（Significant Investor Visa，以下 简称SIV）受到中国公民的夹道欢迎，被誉 为澳大利亚移民项目中的点睛之笔。

为了吸引更多高净值人士，刺激经济发展， 联邦政府于2012年推出SIV。申请者只需 向澳大利亚核准的投资项目投资500万澳 元，即有资格申请永居签证。 SIV属于联邦政府商业创新和投资 计划（Business Innovation and Investment Program）的一部分。自推出 以来，该签证类型很快在中国公民中盛行 起来。2012至2013年度，申请该类签证的 中国公民仅有285名，而到2014至2015年 度，申请人数达到历史最高的1393名。若 所有申请得以通过，澳大利亚将获得超过 69亿澳元的资金流入。 然而，在2014年底，联邦政府宣布对SIV进 行改革，管理投资项目类型。 此前，SIV申请者可以选择投资于私人有 限公司、政府证券、或管理基金。

但是从2015年7月1日开始，签证制度改弦 更张，SIV申请者无法再投资于债券及私 营企业，而只能在管理基金领域开展被动 投资，且至少须用10%的资金进行风险投资 （venture capital）。

在信息自由法（the Freedom of Information Act）的规定下，澳大利亚 移民及边境保护部（the Department of Immigration and Border Protection） 发布官方信息，其数据表明改革政策颁布 后，中国的SIV申请者骤然减少，2015至 2016年度的申请人数仅为180人。

2016至2017年度，申请人数回升至370名， 但仍比2015年的高峰期减少了1000多人。 澳大利亚移民协会（Migration Institute of Australia）西澳分会主席詹姆斯·克拉 克（James Clarke）不无惋惜地表示，移民 领域的许多业内人士都曾在磋商阶段对联 邦政府提出警告，认为新政将把中国投资 者拒之门外。

“Venture capital翻译成中文就是‘ 风险投资’ （risk investment）。”克拉 克先生告诉澳中商讯（ACBR）。 （译者 注：Venture capital主要是指向初创企业 提供资金支持并取得该公司股份的一种融 资方式，中文通常译为风险投资） WWW.ACBR.COM.AU

and second-tier cities in China,” Ms Chen said.

“We’re confident we can secure 20 to 30 clients per year.”

Ms Chen said 3 Oceans would use that network to ensure Chinese clients were comfortable with the SIV process.

“We share the same culture and heritage so we understand our clients’ needs and the level of risk they are comfortable with,” she said.’

“We tailor investment plans to suit their needs.”

“中国公民尚未做好准备。”

“现行的结构和设置是为久经历练的成熟 投资者而制定的，因此对中国大陆的投资 者并不友好，而似乎更适合来自新加坡、马 来西亚、甚至中国香港的投资者。” “我的观点是有据可证的。此前申请者可 以选择投资企业进行管理，或是购买政府 债券一劳永逸，而如今唯一的方式是向十 分复杂的金融产品进行投资。” “现在SIV申请者必须从十分复杂的产品 和资产类别中选择投资目标。”

2015年，指责中国投资者抬高悉尼房价 的声音此起彼伏，新南威尔士州（New South Wales）面临的政治压力陡增，导致 签证计划的发展脱离轨道。对此，克拉克先 生感到十分忧心。 他表示： “实际上SIV与这一问题毫无干 系，改革新政只不过是为了达到收紧中国 投资的政治目的。”

Vantage资产管理公司（Vantage Asset Management）的董事总经理迈克尔·托宾 （Michael Tobin）所持的观点不尽相同， 他认为尽管签证改革的确使得大量投资者 对澳大利亚敬而远之，签证框架的改进也 并非一无是处。

托宾先生遗憾地表示，最初的SIV体制早 已深受不公平利用的困扰。事实证据表明， 一些投资者仅在短期内提供500万澳元 的投资，随即便通过“回贷”协议（‘loanback’arrangements）收回资金。

“申请人数减少是不可否认的事实，但这 也正是因为新政策将许多招摇撞骗的人拒 之门外。而现在，真正理解这一点的投资者 仍会为澳大利亚经济带来利益。” “同时这也为申请者提供了更多的保护。” “如果任由这种不公平的利用持续存在， 那么澳大利亚将会有大量的未核准基金， 以及大量的货币损失，这无疑将使澳大利 亚在全球金融行业中臭名远播。” 托宾先生指出，签证的改革措施颁布后， 专门面向私募股权投资的Vantage公司随 即调整了其最新的私募基金结构，以达到 SIV的各项要求。 相较于传统的风险资本，SIV申请者可投 资于面向私募股权的核准基金，从而大幅

| NEWS

COMPLEX Significant Investor Visa applicants need to evaluate many options when considering investing in Australia. Photo: Shutterstock 纷繁复杂 若在澳大利亚进行投资，显赫投 资者签证申请者须对众多投资选择进行评 估。照片来源：Shutterstock

降低投资风险。

“这一做法的魅力之处在于，投资者能够 用传统的私募股权方式对可盈利企业进行 投资。” “我们从不对新兴企业进行投资，基金的 投资对象仅限于拥有获得认可的产品和服 务的可盈利企业，以及一些原本无法获得 SIV投资或个人投资的机构基金。” Vantage 公司已经与2018年初与珀斯的 三洋资本管理企业（3 Oceans Capital） 合作，并推出一项新的SIV核准基金。三洋 公司人脉广泛，其大量客户均是有意移民 澳大利亚的高净值人士。

“与三洋集团成立合资企业无疑是一个巨 大的商机，让我们有机会发掘本来无法企 及的资本来源。”

“尽管传统的中国SIV申请者可能视风险 投资为洪水猛兽，但是一旦我们明确告知 具体情况，排除新兴企业，仅投资于可盈利 公司，同时协助投资者增加收益，那么投资 者将更好地理解风险投资，并相信这不会 带来任何的经济损失。” “于我们，以及三洋公司而言，这是向SIV 申请者提供投资收益的良机。”

“这是经过核准的投资项目，申请者无疑 能在四年之后拿到永居签证。另一方面，相 较于房地产、债券、及上市公司等投资领 域，该基金项目面向的行业拥有更稳定且 更高的投资回报率，能够为投资者带来更 好的收益。” 三洋资本公司的总经理陈樱忆（Sophie Chen）表示，在吸引中国高净值人士投资 三洋SIV基金方面，三洋公司成果斐然。

“我们与中国许多战略合作伙伴关系密 切，这些企业分布于中国四大主要城市及 其他二线城市。”陈女士说道。

“公司每年的客户数量可达到20至30家， 对于这点我们信心十足。” 陈女士还透露，三洋公司将借助其关系网 确保中国客户对SIV流程舒心满意。

陈女士充满自信地表示： “相同的文化背景 让我们能更好地理解客户需求，并对风险 程度做出最好的掌控，让客户完全放心。”

“我们针对客户需求，量身定制投资计 划。” 2018年一月/二月 | JANUARY/FEBRUARY 2018

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前沿领域

中国巨头致力协助澳大利 亚建筑业改革

Leading edge

One of Fuzhou’s most innovative companies hopes to transform construction in Australia 作者 : Dan Wilkie

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封面故事 LOCATED on the south-east coast of China, Fujian Province has always been one of the Middle Kingdom’s most culturally and economically important regions.

More than 600 years ago, China’s fleets first started their journeys in the port city of Quanzhou, beginning the ancient maritime Silk Road that linked China to Indonesia, the Middle East, Africa and Europe, spurring rapid cultural and industrial exchange and development.

Today, for one of China’s biggest construction, manufacturing and development giants, Fujian Province’s capital Fuzhou is the frontier for what it hopes will be an historic expansion.

China Wu Yi, a state-owned and publicly listed company on the Shenzhen Stock Exchange, is already one of the country’s most-travelled enterprises.

Ranked among the top 250 building companies worldwide by US Engineering News, China Wu Yi operates in more than 30 countries across Europe, Asia, Africa and North America and the Middle East.

Australia is the only region where China Wu Yi does not yet have a footprint.

China Wu Yi chairman Qiu Liang Xin said the company had been encouraged to seek out a mutually beneficial partnership in Australia under the auspices of the modern maritime Silk Road – part of the wide-ranging Belt and Road Initiative announced by President Xi Jinping in 2013.

That partnership is Wu Yi Doric, an independent, 50:50 joint venture with Perth-based construction firm Doric, which has been operating in Western Australia for nearly three decades.

Wu Yi Doric represents the establishment of a tier-one contractor for the Australian market, with the company’s mandate to use the significant financial muscle of China Wu Yi to bid competitively on projects worth $100 million and above.

The partnership, which has been in genesis for more than 12 months, will enable Doric to fulfil its long-held ambitions of a national expansion, while also setting its sights on exposure to South-East Asian markets.

Mr Qiu said Wu Yi Doric was a perfect example of the spirit of the Belt and Road Initiative, which has been designed to enhance connections between more than 60 countries, drive significant economic development and

福建省位于中国东南部海岸，自古以来就 是中国重要的经济文化中心。

600多年前，中国船队第一次从港口城市泉 州扬帆启程，开启了古老的海上丝绸之路， 建立了中国与印度尼西亚、中东、非洲和欧 洲之间的联系，繁荣了这些地区文化和工 业的交流与发展。 作为中国建筑、生产和开发集团巨头的摇 篮，福建省会福州如今已经成为建筑行业 的前沿阵地，它将会见证此次历史性的扩 张。

中国武夷是一家在深圳证券交易所挂牌上 市的国有企业，位列中国受访最多的企业 之一。

中国武夷被美国《工程新闻纪录》列入全球 250家最大国际工程承包商，其业务范围 遍及亚非欧、南美和中东的30多个国家和 地区。 澳洲是中国武夷唯一尚未涉足的地区。

中国武夷董事长丘亮新表示，集团受到习 近平主席于2013年提出的一带一路倡议鼓 舞，愿在现代海上丝绸之路沿途国家—— 澳大利亚寻求互惠互利的合作伙伴关系。 在此背景下，中国武夷与珀斯建筑集团

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Doric共同建立了名为Wu Yi DORIC的独 立实体公司，双方各持50%股份。Doric集 团是西澳老牌企业，经营时间长达30年。 Wu Yi Doric的成立代表着澳洲市场又一 名一级承包商的诞生。新公司将借助中国 武夷强大的财力，着重于价值在1亿美元以 上项目的竞争。

这段孕育了12个月的合作关系终于一锤定 音，Doric将借此实现其走向全澳的夙愿， 同时也将目光投向东南亚市场的开发。 丘先生表示，一带一路倡议的设计意图即 是增强沿线60多个国家之间的联系，大大 促进各地区的经济繁荣，而Wu Yi Doric 正是一个极佳的范例，中国武夷将会沿袭 这样一条古老而又崭新的道路，为集团发 展寻求新的机遇。

丘先生告诉澳中商讯记者： “一带一路倡议 的核心精神在于和平合作、开放包容、互学 互鉴和互利共赢。

“中国武夷将会深化与Doric的合作，利 用最前沿的技术和概念为建筑行业注入新 的活力。 “我们的愿景是，借此将中澳两国合作拓 展到其它更多领域，通过我们的合作与交

GLOBAL REACH China Wu Yi is following the path of its ancestors, according to chairman Qiu Liang Xing. Photo: Philip Gostelow

SCALE China Wu Yi has considerable experience with major developments such as this high-rise project, Haisheng Victoria in Xiamen. Photo: Wu Yi Doric

全球触角 中国武夷实业股份有限公司（ 以下简称：中国武夷）董事长丘亮新表示， 集团将沿袭古老的路线。摄影：Philip Gostelow

规模 中国武夷在大型开发项目方面经验 丰富，例如高层住宅项目海晟维多利亚。 摄影：Wu Yi DORIC

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would allow China Wu Yi to follow the path of its ancestors.

“The gist of the initiative means to cooperate in a peaceful manner, be open minded and tolerant, learning from each other and making mutual benefits and win-win outcomes,” Mr Qiu told Australia China Business Review.

“China Wu Yi and Doric will further their cooperation to instil new power into the construction industry, with new technology and concepts.

“From here, we wish to broaden extensively the cooperation between China and Australia to many more sectors and hope that our work can underpin friendship among our people as well as between our governments.

“This long-lasting friendship will benefit not only our people but economic growth in Australia.”

China Wu Yi, which reported operating income of more than ¥2.57 billion ($502 million) to the Shenzhen Stock Exchange in 2016 and holds more than ¥10.9 billion ($2.1 billion) in total assets, is considered to be a leading innovator in pre-fabricated buildings.

As well as being a large-scale construction firm, China Wu Yi is big manufacturer of next-generation building supplies.

Mr Qiu said the company had developed a

HIGH-TECH China Wu Yi delivered the Zhangzhou Olympic Sports Centre for the 2008 Olympics. Photo: Wu Yi Doric 高新技术 中国武夷负责为2008年奥运会 建造漳州奥林匹克体育中心。摄影：Wu Yi DORIC 16

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production-line style of pre-fabrication at its six factories in China, not too dissimilar to the automated process of manufacturing automobiles.

He said it was this technology, developed in-house by a large and dedicated research and development team, which had the potential to transform the Australian construction market.

“The principle that lies behind that is we want to build constructions and buildings in the way that a car is produced,” Mr Qiu said.

“Everything, including staircases, walls, beams and balconies, everything needed for a building can be pre-produced in our factory.

“It has lots of features and advantages – energy saving, environmentally friendly, and it can shorten the timeframe of construction projects.

“We believe it is a trend that the construction industry is going to develop in the future around the world.”

Mr Qiu said China Wu Yi, which is also a prolific developer and real estate investor, had already established Australian subsidiaries to create projects on two parcels of land, one in Sydney and the other in Perth.

Wu Yi Doric has been appointed preferred contractor for both projects, which are in the pre-approvals phase with more details to be announced in coming months.

Mr Qiu said if the company were able to successfully introduce its building techniques and technology into the Australian market, it would begin evaluating the possibility of building a local pre-fabrication facility.

“These pre-fabrication bases are reliable production bases for construction industrialisation,” Mr Qiu said.

“They can supply Australia with the products it needs for buildings and houses.

“We hope that our cooperation with Doric and our new technology can largely reduce the cost of construction in Perth and in Australia.

“As far as I know, the property prices in Perth are still quite high, and the main contributor is the construction cost.

“The project in Sydney is a trial, it is like a pilot project for us, and we would like to see if the Australian community will be happy to see this type of technology used.

“The process is to purchase the land, use our pre-fab technology in the building and deliver the construction to the local people and see what their feedback is.

“If we can see positive feedback and positive outcomes from this project, we will have confidence in setting up a pre-fab factory in Australia.”

封面故事

流加深两国政府和人民之间的友谊。

“中澳友谊长青不仅有益于中国人们，也 必将为澳洲经济发展带来更多机遇。”

据深圳证券交易所2016年度公告，中国武 夷营业收入超过25.7亿人民币（5.2亿澳 元），总资产超过21亿澳元，是组装式建筑 行业的创新引领者。 中国武夷既是一家大型建筑公司，也是下 一代建筑材料的大型生产商。

丘先生表示，该集团在中国的6家工厂已经 开发利用了一套预制构件生产线模式，该 模式与汽车自动化生产的过程类似。 这种新技术由集团内部的高端研发队伍开 发而来，将会成为改革澳洲建筑市场的重 要力量。

大利亚子公司，在悉尼和珀斯的两处地片 开发项目。

这两处项目尚处于预批阶段，Wu Yi Doric 已经分别为其委任 了优秀承包商，更多细 节将会澳洲是中国武夷。 丘先生表示，如果该公司能够成功将其建 造技术引进澳洲市场，它将开始评估建立 当地预处理设施的可能性。

“这些预制构件基地为建筑工业化提供了 可靠的生产基础。”丘先生说， “能够为澳大 利亚高楼和住宅建设供应所需要的产品。 “我们希望我们与Doric之间的合作以及 我们的新技术能够大大降低珀斯乃至澳大 利亚的建筑业成本。

据我所知，珀斯的房价仍然居高不下，其中 一个主要原因就是建造成本太高。

丘先生解释： “这背后的原理是，我们希望 在建筑行业中借鉴汽车生产行业的模式 。” “悉尼的项目是一个试验，于我们而言就 像是一个开拓性项目，我们想要看看澳大 “我们工厂可以预制建筑物所需的一切部 利亚社会是否欢迎这种类型的技术。 件，包括楼梯、墙壁、横梁和阳台。 “这样做有很多优点和特点——既节约能 源又环保，还能缩短建筑项目的用时。

“我们相信这是全球建筑业的大势所趋。” 丘先生表示，中国武夷是既是多产的开发 商，也是房地产投资商，集团已经成立了澳

“我们预想的步骤是，先购置土地，然后在 建筑过程中使用我们的预制构件技术，然 后把建筑成果呈现给当地人民，看看他们 有何反馈。 “如果这次项目带来了积极的反馈和结

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果，那么我们就有信心在澳大利亚开设预 制构件工厂。”

丘先生表示，中国武夷之所以选择Doric， 不仅因为其丰富的项目承包经验，更是因 为其拥有强大的政府、开发商和分包商关 系网络。 丘先生表示： “进入澳洲市场是中国武夷的 一项长期策略，而中国武夷与Doric之间 的合作更是强强联合。”

“通过合作，我们可以更充分地享用Doric 拥有的资源——良好的口碑、人才和人脉 网络，以及其在当地项目中的丰富经验和 良好业绩。 “而就中国武夷而言，我们作为一家国有 企业则拥有非常强大的财力。”

Wu Yi Doric公司的成立，则正是得益于 Doric强大的人际网络，或者说关系。

Doric董事长Harry Xydas在弗雷则河国 王公园开办的公司VIP大会上告诉与会者 们，Doric是经珀斯长期房地产专员Neil Kidd介绍给中国武夷的。

Kidd先生是纽约世界贸易中心全球房地产 开发动力室的澳大利亚代表。 Xydas先生表示，Doric有价值7亿美元的 STANDING OUT China Wu Yi’s prefabrication facilities allow for innovative design in commercial buildings, such as this headquarters for Fujian Motor Industries Group: Photo: Wu Yi Doric 杰出成就 中国武夷拥有先进的预制设施， 能为商业建筑作出创意设计，例如福建 省汽车工业集团总部大楼。摄影：Wu Yi DORIC

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Mr Qiu said China Wu Yi had been attracted to Doric not only because of its strong track record of project delivery, but also because of the strength of its network among local governments, developers and subcontractors.

“Entering the Australian market is a longterm strategy for China Wu Yi and the cooperation between China Wu Yi and Doric is an alliance of powers,” Mr Qiu said.

“This arrangement can fully utilise the features Doric possesses – its good reputation, people and its network and its considerable experience in local projects and good performance.

“As far as our own company is concerned,

GROWING Vince Mulholland says Wu Yi Doric will allow for an increase in scale in the company’s Australian projects. Photo: Philip Gostelow 集团发展 Vince Mulholland表示，Wu Yi DORIC的成立将会扩大该公司在澳大利亚 的项目规模。摄影：Philip Gostelow 18

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we have a very strong financing capacity as a state-owned company.”

And it is thanks to Doric’s network, or guanxi, that Wu Yi Doric was established.

Doric chairman Harry Xydas told attendees at the company’s VIP launch at Fraser’s in Kings Park the companies had been introduced by long-time Perth property executive Neil Kidd.

Mr Kidd is the Australian representative for global property and development powerhouse, World Trade Centre.

Mr Xydas said Doric had considered an east coast expansion on the back of its $700 million worth of projects in hand and annual turnover of more than $400 million, but once introduced to China Wu Yi by Mr Kidd, he realised

something greater could be achieved by leveraging the shared business principles of the two companies.

“It was timely and fitting for our next strategy to expand our operations nationally,” Mr Xydas said.

“I am confident Wu Yi Doric will make a successful impact in the industry and for the economy, and it was Neil who created this opportunity.

“We believe Wu Yi Doric represents an ideal solution, with the potential of becoming a leading independent construction company in Australia.

“This is why we have chosen this, rather than a short-term, one-off joint venture or a corporate transaction.

“China Wu Yi’s additional capital, technologies and competitively priced products will provide a good foundation for us.”

Doric managing director Vince Mulholland, who will also lead Wu Yi Doric, said the partnership would allow for projects of scale that previously could not be targeted.

Wu Yi Doric will operate under a non-compete arrangement with Doric and Jaxon, the group’s residential building arm, both of which will continue to bid on projects valued at less than $100 million.

“Doric has always historically done projects across many sectors, but it was constrained in terms of capital and in terms of the size of project that it could target,” Mr Mulholland said.

“A lot of our clients had been talking to us about larger projects that they’d been doing, but they couldn’t see that Doric had the capital.”

Mr Mulholland said he expected Wu Yi Doric to make a significant impact in the local construction sector, where developers were continually seeking a point of difference, as well as cost savings.

“Developers are very interested in terms of what we can offer as a new company, bringing the best of what Doric brings to the table, in terms of being an established builder with a reputation that it can deliver on projects, and China Wu Yi can bring new technology and major project experience to the table,” he said.

“They’ve built major stadia, major projects with universities, residential, government buildings, so they do very large projects in the hundreds of millions.

“The clients that we’ve talked to are very interested in looking at that.”

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This long-lasting friendship will benefit not only our people but economic growth in Australia – Qiu Liang Xin 中澳友谊长青不仅有益 于中国人们，也必将为 澳洲经济发展带来更多 机遇。 ——丘亮新

项目在手，年营业额超过4亿美元 ，已经考 虑向东岸扩张。但是经Kidd先生介绍与中 国武夷接触后，他发现，双方经营理念不谋 而合，可以共创更远大的图景。

“这次合作对于我们下一步走向全澳的战 略来说，非常及时而又合适。”Xydas先生 表示。

“我很自信，Wu Yi Doric将会对行业和经 济发展产生深远而积极的影响，而创造这 一机遇的正是Neil。

我们相信Wu Yi Doric是一个完美的范 例，它有潜力成为澳洲一级独立建筑公司。

“正因如此，我们才选择了这种合作方式， 而不是成立一次性的短期合作企业或者进 行简单的公司交易。 “中国武夷雄厚的资本、强大的技术实力 和有竞争力的产品价格将会给我们提供一 个很好的基础。” Doric总经理Vince Mulholland也将领 导Wu Yi Doric的发展，他表示强强合作 之后，企业将能够进军以往所无法企及的 大型项目。

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Wu Yi Doric的经营将不会和Doric及其 住宅建设子公司Jaxon形成竞争，因为后两 者将继续竞标1亿美元以下的项目。

“Doric涉足领域一直非常广泛，但其发 展却受到资金的限制，可竞争的项目也有 限。”Mulholland先生说道。

“我们有很多客户都会谈起他们在做的大 型项目，但他们担心Doric资金不足的问 题。”

Mulholland先生表示，他希望Wu Yi Doric能在本地建筑领域发挥重要影响，给 开发商们带来他们所翘首期盼的改革，促 进建筑成本的降低。 他表示:“开发商们正拭目以待，想看看我 们的新公司将有何表现。Doric将发挥自己 的长处，继续打响自己作为成熟的建造商 的诚信招牌，而中国武夷则将带来前沿技 术和丰富的项目经验。”

“他们有建造大型体育场馆、大学建筑、高 层住宅和政府建筑的经验，其中不乏价值 数亿元的超大型项目。”

“我们所接洽的客户都对此非常感兴趣。 ”

INTERNATIONAL China Wu Yi has operations in 30 countries, with its projects including the Nairobi University Towers in Kenya. Photo: Wu Yi Doric 国际化 中国武夷业务范围遍及30个国家， 其代表性项目包括肯尼亚内罗毕大学塔楼 等。摄影：Wu Yi DORIC WWW.ACBR.COM.AU

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中国拥抱绿色生活 各国企业摩厉以须 Get ready to do business with greener China CHINA is getting ready for the Lunar New Year holiday – a time of family gatherings, renewal, and considerable household spending.

As the Year of the Dog approaches, companies keen to cater to the world’s second largest economy need to be aware of a trend gradually taking hold among its 1.39 billion inhabitants: they are becoming more sensitive to climate change and environmental issues, and open to new ways of combating it.

Decades of explosive growth, while lifting huge sections of the population out of poverty, have turned the most populous country into the top emitter of greenhouse gases.

News about polluting by China’s heavy industries, and images of its smog-filled megacities hit the headlines at regular intervals.

So, some might cast doubt at the very idea of green-conscious Chinese consumers.

But there are signs the very pervasiveness of China’s environmental issues has caused its residents to increasingly care not just about the price and convenience of the products and services they buy, but also about their environmental impact.

Whether a business is an Australian wine grower, a German carmaker, a chain of American restaurants, a French sportswear manufacturer or a Chinese company selling appliances, food products or hotel accommodation in its home market, it needs to factor in this shift in sentiment.

A survey conducted by Ipsos in November 2017, for example, showed China with the most 20

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respondents worried about climate change in their country – 24 per cent named it as among their top three concerns.

That compares with 20 per cent in Canada, the second-highest of 26 countries polled. The global average was just 9 per cent.

Overall, Chinese respondents feared threats to their environment the most, with 43 per cent naming it as among their three biggest fears.

At the same time, China’s fast-growing middle class is becoming ever more demanding about their health and quality of life.

Many are also tech-savvy and adventurous – and their willingness to try out new products and services is supported by an innovative private sector tuned in to their tastes and needs.

A prominent example is the bike-sharing boom that has swept the country over the past 18 months.

On street corners and at subway exits of many Chinese cities today, residents can now pull out their mobile phones to scan and unlock rental bicycles as they complete the final legs of their daily commutes or head to the supermarket.

While some may complain about the mess the scattered bicycles create, the convenience and low cost of these schemes has convinced millions of Chinese to rekindle their love for a mode of transport that is healthier, easier on the pockets, and also better for the environment.

According to Mobike, a bike-sharing start-up whose investors include China’s Tencent and Silicon Valley’s Sequoia Capital, its 100 million

users have more than doubled their use of bicycles within a year, while cutting car trips by half.

Mobike, which surveyed 100,000 of its customers, estimated that in the year following its scheme’s launch in mid-2016, its riders may have reduced their aggregate carbon emissions by 540,000 tonnes.

That is equivalent to taking 170,000 cars off the road for a year.

For those who still prefer sitting in a vehicle, China is also becoming a test-bed for car-sharing projects. Munich-based consultancy Roland Berger predicts China’s car-sharing fleet will grow 45 per cent per year until 2025, prompted in part by government efforts to curb air pollution.

The popularity of ride-hailing apps such as that from Didi Chuxing further reduces the need to buy cars.

China’s electric vehicle market is also booming.

In 2016, 257,000 battery-powered electric cars were registered in the country, accounting for 55 per cent of the world’s total. That’s three times more than in the United States.

While there’s some debate about the environmental impact of electric vehicles – how to deal with waste from old batteries, for example – more work is being done to find the best solutions.

For now, consumers are benefiting from China’s efforts to build up a world-class electricvehicles industry, with generous government support boosting the market.

观点 David Liao President and CEO, HSBC China 廖宜建（David Liao） 汇丰银行（中国）有限公司行长兼行政总裁

Chinese respondents feared threats to their environment the most, with 43 per cent naming it as among their three biggest fears

中国受访者对环境受 到的威胁最为惶惶不 安，43%表示这是他们 面临的三大恐慌之一。

DAVID LIAO | 廖宜建 Existing tax incentives on electric vehicles have just been extended for another three years, through 2020, and China signalled in September last year it was mulling a ban on fossil-fuel cars, echoing announcements in France and the UK. Green ideas are also being embedded into the daily routines of Chinese lives.

In August 2016, the ubiquitous AliPay mobile payment app introduced Ant Forest, a mini-app that allows users to convert activities such as walking and paying their bills online into “green energy” points.

Collect enough points and users can exchange them for an actual tree to be planted in desert areas such as in Inner Mongolia.

Ant Financial, which conducted the experiment in association with the United Nations Environment Program, reported that 200 million users took part in the six months after the app was launched, with behaviour changes over the period resulting in an estimated 150,000 tonnes of avoided carbon emissions and more than 1 million trees planted.

These may seem like small steps.

But coupled with the Chinese government’s determined push to cap energy consumption, reduce emissions and boost renewable energy generation, such developments have global relevance – and they matter to anyone doing business in China in the Year of the Dog, and beyond.

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| OPINION

GREEN Electric bikes are popular among China’s environmentally conscious younger generation. Photo: Shutterstock.com 绿色生活 中国的年轻一代环保意识强烈，电动单车广受欢迎。图片 来源：Shutterstock.com 中国春节将近，举国上下皆翘首以待，并一 掷千金以庆祝这个阖家团圆，辞旧迎新的 传统节日。 随着农历狗年的临近，许多企业意欲在新 的一年里更好地迎合全球第二大经济体的 需求。于这些企业而言，了解中国13.9亿居 民的喜好趋势无疑是新年的首要任务。而 目前，最值得注意的当属中国人对气候变 化和环境问题的日益关注，以及对解决之 道的日渐开放。 数十年的爆发式增长无疑带领了无数中 国人脱贫致富，但另一方面也导致这一人 口大国逐渐成为全球最大的温室气体排 放国。 重工业导致污染的新闻报道层出不穷，各 大城市雾霾弥漫的照片铺天盖地。 因此，或许有人对中国消费者环保意识有 所增强的观点不以为然。 但这的确是有迹可循的。普遍存在的环境 问题引起了广大人民群众的日益关注。如 今，价格和便捷度不再是中国消费者衡量 产品和服务的仅有因素，更重要的是产品 带来的环境影响。

无论是澳大利亚的葡萄酒酿造商，德国的 汽车制造商，美国的连锁餐厅，法国的运动 品牌企业，还是在本国市场销售电器、食物 或经营酒店住宿的中国公司，都应将消费 者的这种转变纳入考量范围。

2017年11月，市场研究公司益普索（Ipsos） 对26个国家展开调查，结果显示中国受访 者对气候变化最为担心：24%将其列为最 令人忧虑的三大问题之一。 相比之下，该比例位列第二的加拿大为 20%，而全球平均比例仅为9%。

整体而言，中国受访者对环境受到的威胁 最为惶惶不安，43%表示这是他们面临的 三大恐慌之一。

与此同时，飞速崛起壮大的中国中产阶层对 健康和生活品质表现出前所未有的关注。 许多人精通技术，痴迷冒险，并且在创新性 私营企业的滋养下培养出独特的品味和需 求，亦更乐于尝试新的产品和服务。

在过去18个月内席卷全中国的共享单车热 潮正是最突出的例子。 现在中国许多城市的街角巷口和地铁出口 都摆放着共享单车，人们只需要拿出手机 扫码解锁，便可租借自行车完成日常通勤 的最后一站，或是去往超市进行购物。 或许有人会埋怨随意停放的自行车凌乱不 堪，但此类服务的便利性及其低廉的成本 让无数中国人重燃热情，再次选择这种更 为健康、更加经济、且更利于环境的出行 方式。

投资者包括中国的腾讯公司和美国硅谷的 红杉资本（Sequoia Capital）。摩拜单车表 示，在过去一年间，其1亿用户的单车使用 频率翻番，减少了一半的汽车出行计划。 摩拜单车选择了10万用户展开调查，并根 据结果得出以下结论：自2016年中期推出 该计划以来，其用户在一年时间内或已减 少了54万吨碳排放量，相当于一年之内减 少了17万辆汽车的出行。

对那些仍旧偏爱驾车出行的人而言，中国 正成为共享汽车项目的实验基地。位于慕 尼黑的管理咨询公司罗兰贝格（Roland Berger）预测，在政府努力控制空气污染的 推动作用下，2025年之前中国的共享汽车 数量将以45%的年增长率不断增加。 诸如滴滴出行等打车应用的普及亦使得购 车需求进一步减少。 此外，中国的电动汽车市场也逐渐兴盛起 来。

2016年，中国的注册电动汽车数量达到 25.7万辆，占世界总量的55%，是美国电动 汽车数量的三倍多。 尽管对于电动汽车的环境影响争议颇多， 例如如何处理废旧电池等问题引发了广 泛争论，但人们正在努力寻找最好的解决 方案。

目前，中国政府慷慨解囊，支持行业发展， 致力于建造一个世界级的电动汽车行业。 消费者亦从中受益颇多。

现行的电动汽车税收激励政策刚刚获得三 年的延期，将一直实施到2020年。而去年9 月份，中国政府曾暗示正在仔细考虑禁止 燃油汽车，以呼应法国和英国颁布的公告。 现在环保意识已融入中国人的日常生活。

2016年8月，广受欢迎的支付宝手机应用推 出“蚂蚁森林”公益行动，用户通过步行、在 线缴纳账单等行为积累“绿色能量”积分。 获得足够的积分即可进行兑换，在内蒙古 等地的沙漠地区种植一棵真正的树。

蚂蚁金服与联合国环境规划署（United Nations Environment Programme）合 作进行试验，并得出报告：在蚂蚁森林推出 后的六个月内，已有2亿用户参加此项公益 行动，共计减少了15万吨左右的碳排放量， 并累计植树100多万棵。 对于泱泱大国来说，这些进展似乎微不足 道。

摩拜单车是一家新兴的共享单车企业，其

但除此之外，中国政府亦决心控制能源消 耗，减少碳排放，并推动可再生能源行业的 发展。这些举措无疑将在全球范围内带来 影响——无论是在新的一年里还是更远的 未来，任何有意在中国开展商业活动的企 业都无法忽视中国的新转变。

2018年一月/二月 | JANUARY/FEBRUARY 2018

21

AGRIBUSINESS | 农商

In the end we’ve chosen a partner that’s got scale and significant reach into the China market – Reg Weine

最终，我们还是选择与已经具备一定规模 并在中国市场上占据重大份额的公司进 行合作——瑞格·魏内（Reg Weine）

可口的澳洲水果深受美食家青睐

Aussie fruit ripe for gourmet palates 本刊记者 : Staff reporter

CHINA’s consumer revolution is continuing to create export opportunities for Australian agribusinesses, with fruit producers and processors the next in line to benefit as the country’s more affluent middle class increasingly seeks out high-end gourmet foodstuffs.

As China’s middle class has become increasingly wealthy, it has also developed a seemingly insatiable appetite for any food that’s certified to come from clean and pristine growing environments, particularly in Australia.

Australian producers have also been helped by the China-Australia Free Trade Agreement (ChAFTA), which was announced in 2015 and has resulted in greatly reduced tariffs across a range of agricultural products, with 95 per cent of exports to China due to have tariffs removed when ChAFTA is fully enforced.

Forecasts by the Australian Bureau of Agriculture and Resource Economics and Science show Chinese demand for high22

AUSTRALIA CHINA BUSINESS REVIEW | 澳中商讯

quality agriculture and food products is expected to continue its meteoric rise, eventually accounting for 43 per cent of global growth in agricultural demand by 2050.

The latest icon to tap into the phenomenon is SPC, the 100-year-old manufacturer of processed fruit products under its own brand, as well as the Goulburn Valley and IXL trademarks.

SPC has begun exporting its processed fruit products, as well as those under the Goulburn Valley brand, to China, in a partnership with state-owned China State Farms Agriculture Shanghai.

By March, SPC and Goulburn Valley products will appear on high-end supermarket shelves across Chinese tier-one cities, while they are also readily available at premier e-commerce portals Tmall, JD.com and Kaola.

SPC managing director Reg Weine said his company spent between 18 and 24 months researching the Chinese processed fruit market, which is worth around $1.2 billion annually, about five times the size of the Australian market.

NEW FACE SPC managing director Reg Weine with brand ambassador Ye Yiqian in China. Photo: SPC 新面孔 SPC的管理总监罗格温恩和中国形 象大使叶一茜

中国消费者改革持续发酵，为澳大利亚的 农商领域创造了更多的出口机会，当国家 越来越多有影响力的中产阶级对高端水果 的需求急剧增长之时，水果的生产商和加 工商便会从中直接受益。

在中国，由于中产阶级的人群变得愈发富 裕，逐渐地使得他们对纯天然水果有着海 量需求，来自澳大利亚的水果尤为显著。 在2015年，中澳自由贸易协定的签订和宣 告使一系列的农产品的关税被大幅度的削 减，当这份协定完全实施之后，来自澳大利 亚的的百分之九十五的产品进口关税得以 消除，澳大利亚的水果生产商也因此从中 受到了鼓励，且获得大量利润。 根据澳大利亚农业和资源经济科学有关 部门的预测，中国对高质量的农产品和水 果的需求有望大幅度地增加，到2050年之 前，将会在全球农产品需求的增长上占据 43%。

最新呈现这种现象的企业是SPC公司，这 是一家有着百年品牌历史的水果加工产品 的制造商，旗下还包括高宝谷和IXL的商

农商 Mr Weine said SPC had also evaluated myriad strategies to enter the lucrative arena, a process which unearthed the importance of choosing the right distribution partner.

To that end, SPC has partnered with CSFA, which was also responsible for introducing A2 Milk and A2 baby formulas to the Chinese market.

“We had a lot of inbound interest to partner with Chinese companies on distribution and taking our leading brands into that market,” Mr Weine told Australia China Business Review.

“But I think in the end we’ve chosen a partner that’s got scale and significant reach into the China market.

“Certainly, they can help with any of the regulatory environment and challenges that are ahead of us, given that they are a stateowned enterprise, and they have an enviable track record of taking foreign premium brands into the China market, including A2 Milk and A2 infant formula.

“We think they are the right partner, there is good cultural alignment and good brand alignment.”

Mr Weine said SPC’s consumer face in China would be Ye Yiqian, the well-known singer and actress and social media influencer.

“She has already injected a great amount of personality and vibrancy into our brand, she’s got a passion for cooking and food, so we think that connection will be really important to contextualise our products for that consumer market,” he said.

“She’s a fantastic ambassador and a really good fit for the brand.

“Just in terms of cut through and in terms of brand salience, it’s a bit of a shortcut to build that credibility for the brand, and I think that a famous Chinese person can do that better than an Australian.”

Chinese demand for Australian fruit is also being felt particularly strongly by citrus producers.

Data from Citrus Australia show a total of 220,754 tonnes of Australian citrus was exported in the 12 months to September 2017, up 18 per cent on the previous year and worth more than $377 million.

More than 65,000t of those exports went to China, with trade volumes predicted to reach as high as 85,000t for calendar 2017, once the data is collated.

The China citrus export explosion has been a priority for Citrus Australia since 2012, with a bespoke end-to-end system developed in 2014 to manage the industry from growth to harvest.

In Western Australia, processing firm Moora Citrus recently announced plans to construct a $7 million packing facility in Bindoon, to help growers across the state take advantage of the export opportunities for Australian fruit.

Moora Citrus began exporting fruit to China three years ago, expanding its reach to six other South-East Asian countries in the subsequent two years.

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标在内。SPC已经开始与上海的国有农场 农业进行合作，并将其加工后的水果产品 出口到中国，有部分是以品牌旗下出口的。 到今年三月份，SPC和高宝谷公司的产品 将会跨越中国的一线城市，出现在其高端 超市的货架上，同时，部分商品也即将能在 天猫，京东，考拉等电商网站上进行销售。 SPC的总经理罗格委内说道，他的公司用 18到24个月来调研中国的水果加工产品 市场，其开销年均在120多个亿左右，大约 是在澳大利亚的市场上所花的成本的五 倍。委内先生还提到，SPC还尝试利用金字 塔式的策略来进入利润丰厚的市场，最后 评估到，这个过程使我们明白选择一个正 确的分销商的重要性。

最后，SPC选择与CSFA进行合作，此公司 也对即将推广到中国市场的新型A2牛奶 和A2婴儿配方奶粉负责。委内先生在澳中 商讯的采访中说道， “我们与分销的中国企 业让利给合作伙伴，而且带领我们的品牌 率先进入市场。”

“但是我认为，最终我们选择与已经具有 一定规模并在中国市场上占据重大份额的 公司进行合作。当然，他们能够为任何监 管环境和我们面临的挑战提供帮助，考虑 到他们具有国企背景，并且在带领国外高 端品牌进入中国市场方面，拥有着斐然的 业绩记录。其中包括A2牛奶和A2婴儿配 方奶粉。”

“我们认为他们就是我们要找的合作伙 伴，我们之间有良好的文化和品牌共识。” 委内先生说SPC在中国的消费者面孔应当 是叶一茜，她是一位著名歌手、演员，并且 具有高度社交媒体影响力。他说： “她已经 为我们的品牌注入了很多个性与活力，她 对烹饪与美食有着高昂的热情，所以我们 认为将我们的产品融入中国的消费者市场 时，这种联系会尤为重要。” “她是一位出色的形象大使，且非常符合 品牌的要求。仅仅根据成本削减和品牌特

| AGRIBUSINESS

WIN, WIN CFSA chairman Zhao Qingyong says the partnership with SPC is another example of strong ties between Australia and Chinese businesses. Photo: SPC 照片来源 SPC 标题：双赢：CFSA公司董事 长赵庆永，在谈及与SPS公司的合作关系 时，认为这是中澳商业密切往来的又一佳 话。

征，建立品牌信誉在某种程度上可以算作 是走捷径，而且我认为一位著名的中国形 象会比澳大利亚人更有说服力。”柑橘生 产商发觉中国对澳大利亚水果的需求尤 其庞大。

澳大利亚柑橘协会的数据显示，直到2017 年九月，共有220,754吨澳大利亚柑橘在 12个月内出口，较往年上涨18个百分点， 总价值高于377万美元。

超过65,000吨水果将出口至中国，根据数 据整理，2017年贸易额将达到85,000吨。 中国的大规模柑橘进口始于2012年的澳 大利亚柑橘协会，2014年，一套完整的订 制端对端系统已应用于整个行业，监管着 从柑橘生长到收获。

在西澳大利亚州，Moora Citrus公司近期 在Bindoon地区宣布了一项价值700万澳 元的计划，该计划实实在在帮助当地果农 和种植户从澳洲水果出口行业中获益。

Moora Citrus公司已经出口水果至中国 有三年之久，接下来的两年中，其又对六个 东南亚国家进行了贸易扩张。 2018年一月/二月 | JANUARY/FEBRUARY 2018

23

RESOURCES | 能源

钒电池：储能行业升起新秀

Vanadium arcs up on battery potential 作者 : Dan Wilkie CHINA is charging ahead in the use of vanadium for renewable energy storage, potentially sending spot prices skyward and heaping pressure on global supplies of the material, which has historically had the industrial application as a key ingredient in strengthening steel.

Much of the hype around energy storage has been around lithium-ion batteries, which are used to power just about everything – from personal electronics to electric bicycles and vehicles.

But batteries need to be big and have a long shelf life.

The vanadium flow battery is emerging as a solution to the challenge that generation of renewable power, such as wind or solar, does not always occur at the same time as peak demand.

Vanadium redox flow batteries (VRFB) can also be used to store hundreds of megawatt hours of energy to provide an alternative source of power at peak load times on conventional energy grids.

24

AUSTRALIA CHINA BUSINESS REVIEW | 澳中商讯

Proponents say the batteries provide several advantages over their lithium-ion counterparts. VRFBs hold power for longer, can be scaled up more easily and can operate on a 24-hour, seven-days-per-week basis for up to 20 years – around twice that of a lithium battery.

And while the vanadium battery revolution is occurring worldwide, with more than 30 VRFB projects having been built or under construction since 2014 in 11 countries, China is building the biggest, as part of the country’s commitment to reduce reliance on coal-fired power and transition to renewables.

In November, one of the biggest proponents of vanadium flow battery technology, Pu Neng, was awarded a contract to build one of China’s largest VRFBs, with the project described as a glimpse into the future of the Chinese electricity grid.

Pu Neng will initially build a small-scale VRFB to demonstrate the capability of using the technology to integrate a solar photovoltaic system into the energy grid at Zaoyang.

That battery would be followed by a 100-megawatt, 500MW-hour energy storage project, underpinned by a VRFB, which is planned to be the cornerstone of a new smart energy grid in Hubei Province.

Pu Neng’s project follows Rongke Power’s 200MW-800MWh VRFB, which it is building in the Dalian high-tech zone and is the largest planned chemical battery in the world.

Rongke also has a large-scale manufacturing facility, which builds the batteries, with the project expected to come on line by 2020.

The Rongke power project is considered as a benchmark for VRFB technology, according to Australian Vanadium managing director Vince Algar.

“In China, there are massive amounts of renewables projects being deployed, they understand the concepts of true storage, long-duration storage and the dam concept of renewables, and that’s not something that’s gotten through in the Australian psyche yet,” Mr Algar told Australia China Business Review.

能源

| RESOURCES

LONG TERM Australian Vanadium has been drilling and evaluating its Gabanintha vanadium deposit for the last 10 years. Photo: Australian Vanadium

“It’s a very different thing than just trying to save the grid for a moment. People have got an idea of what the Tesla battery in South Australia is doing – it’s just to stop a failure.

“The battery that Rongke is building at Dalian is like a benchmark for ultra-largescale flow batteries and ultra-large-scale grid batteries in general.

“They provide longer duration storage opportunities for the grid, and they are longlife assets that are grid-life assets.”

In Australia, there are 16 ASX-listed companies with JORC-compliant vanadium resources, including the world’s two biggest miners in BHP Billiton and Rio Tinto, but there are currently no mines in production.

Other listed companies with significant vanadium resources include TNG Limited, Neometals, King River Copper and Surefire Resources.

The only previously operating vanadium mine in Australia was Atlantic Limited’s Windimurra project in the Mid West, which has been on care and maintenance since 2014.

WWW.ACBR.COM.AU

目标长远 过去十年间，澳大利亚钒业公 司（Australian Vanadium）一直对其 Gabanintha钒矿项目进行开采和评估。 照片来源：澳大利亚钒业公司（Australian Vanadium）

BIG SELL Australian Vanadium directors Vince Algar (left) and Daniel Harris are leading the company’s China marketing efforts. Photo: Australian Vanadium

在工业应用中，钒主要用于提高钢铁硬度。 而如今，中国领先一步使用钒电池存储可再 生能源，这一举措或将引起现行价格突飞猛 涨，并对全球原料供应行业施加压力。

热潮，自2014年起共有30余个全钒液流电 池项目在11个国家得以创建或正在建设过 程当中。而中国正在建设全球最大规模的钒 电池项目，从而实现国家承诺，减少对火力 发电的依赖，逐渐转向可再生能源。

一直以来锂离子电池是能源储存领域的热 点话题，也几乎是所有电子产品的能量来 源，从个人电子设备到电动自行车，甚至电 动汽车，无一不采用锂离子电池。

然而电池不仅要有较大的容量，更需要较长 的贮藏寿命。 由于风力及太阳能等可再生能源并不一定 能在需求高峰期输出能源，全钒液流电池无 疑是应对这一挑战的解决法案。 全钒氧化还原液流电池（Vanadium redox flow batteries，VRFB）可存储的能源高达 数百兆瓦时，足以在高峰时段通过传统电网 提供电力。 支持者认为相较于锂离子电池，钒电池的优 势显而易见。首先，全钒液流电池贮能时间 更长，且更易充电。另外，其续航能力十分强 大，能够24小时不间断供电长达20年，大约 是锂电池供电时长的两倍。 如今钒电池在世界范围内掀起了一阵变革

开疆拓土 澳大利亚钒业公司（Australian Vanadium）的总经理文斯·埃尔加（Vince Algar）及丹尼尔·哈里斯（Daniel Harris） 领导公司积极打开中国市场。照片来源：澳 大利亚钒业公司（Australian Vanadium）

作为全钒液流电池技术最大的支持者之一， 普能公司于去年11月成功签署合同，建设中 国最大的全钒液流电池储能项目之一。该项 目被认为是对中国电网的未来展望。

普能公司首先将在湖北枣阳建设一个小规 模的全钒液流电池进行示范，展示如何利用 技术将太阳能光电系统与能源网整合起来。 另一个以钒电池为基础的100兆瓦/500兆瓦 时储能电站项目将随之展开，为湖北省全新 的智能电网打下坚固基石。 在普能公司建设钒电池项目之前，融科储能 技术公司就已在大连高科技园区开展200 兆瓦/800兆瓦时全钒液流电池项目的建设 工作。目前，该项目是全球最大的化学电池 规划项目。 融科公司具有大规模的电池生产设备，据预 估，该项目将于2020年上线。 澳大利亚钒业公司（Australian

2018年一月/二月 | JANUARY/FEBRUARY 2018

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We’re seeking investment and we’re seeking offtake and I’m very keen to spread that across steel and energy – Vince Algar

我们正在钢铁行业及能源领域努力寻求投资和销售机 会——文斯·埃尔加（Vince Algar）

Of those companies holding vanadium deposits, the closest to production is Australian Vanadium, which was established a decade ago and is rapidly advancing plans to start a mining operation near Meekatharra in the Mid West, known as Gabanintha.

Managing director Vince Algar said part of Australian Vanadium’s development strategy would be to utilise the Windimurra processing facilities, which were purchased

by Indonesian billionaire Anthony Salim in 2016.

Australian Vanadium director Daniel Harris was previously chief executive at Atlantic, a position that Mr Algar said gave the company an advantage in negotiations to utilise the Windimurra assets.

“It’s critical infrastructure that’s very hard to get your hands on,” Mr Algar said.

“We are working with them as much as we can, because the quickest way to mine would be to use the infrastructure.

VALUE Australian Vanadium’s Gabanintha is considered to be the country’s highestgrade deposit. Photo: Australian Vanadium 一骑当先 澳大利亚钒业公司（Australian Vanadium）的Gabanintha项目被誉为全 澳品质最高的钒矿资源。照片来源：澳大利 亚钒业公司（Australian Vanadium） 26

AUSTRALIA CHINA BUSINESS REVIEW | 澳中商讯

“If we can’t close that, our opportunity is to build a processing plant, either at site or at Geraldton.”

Mr Algar said the impetus for rapid development at Gabanintha was the fact that vanadium prices had surged throughout 2017, not only because of interest from the battery sector, but also on the back of a Chinese upgrade in rebar steel standards, requiring up to 30 per cent more vanadium.

In August, vanadium prices hit a nine-year high, with ferro vanadium, the product used in steel alloys, rising by around 90 per cent in the eight months to the end of August, while the price of vanadium pentoxide, the product used for batteries, more than doubled on European spot markets.

“Given the price has spiked so high, the interest levels from the vanadium flow battery companies is actually higher than the steel companies, because they need a lower-priced product, they need to be able to get the product at a lower price,” Mr Algar said.

“Depending on how demand grows in the energy sector, if that demand becomes extreme because more Chinese companies are seeking to build these batteries, that is going to go up, and then they will really become desperate.

“Vanotech, the global organisation of vanadium producers, has a view that there could be 20 per cent increase in global demand over about a five-year time period, just from the battery sector, if you get a takeoff in the technology.

“The market is pretty short right now, the supply side for vanadium is about 8,000

tonnes short right now, and that’s being driven by demand in the steel industry.”

Australian Vanadium, which is preparing a pre-feasibility study for Gabanintha, recently hired global minerals marketing firm Mastermines to identify customers in China, as well as seek out a potential investment partner.

In December, Mastermines principal David Gillam visited China on behalf of Australian Vanadium, meeting with a host of steelmakers as well as several vanadium electrolyte suppliers that work with Rongke Power and Pu Neng.

Mr Algar, who accompanied Mr Gillam on the trip, said there was considerable interest in the potential of the Gabanintha mine, considered to be Australia’s highest-grade vanadium deposit and ranked in the top three globally.

“We’re seeking investment and we’re seeking offtake and I’m very keen to spread that across steel and energy,” Mr Algar said.

“We want to use this time to attract the right investor.

“There is an opportunity for us to use the high price to our advantage and attract an investor to the country. Then we can play the energy side and the steel side collectively.

“What that does is it gives us an insurance policy between the steel market and its ups and downs which are tied to macroeconomic events, and the energy market, which is not directly aligned.

“Energy is more consistent, if we have exposure to the energy market and the steel market it gives us the ability to spread and have some diversity in price points for different customers.”

能源

Vanadium）的董事总经理文斯·埃尔加 （Vince Algar）表示，融科公司的储能项 目被视作全钒氧化还原液流电池技术的基 准。

“目前中国部署开展了大量的可再生能源 项目。在储能技术、长期存储、以及可再生能 源方面，中国对真实概念的理解十分透彻。 但澳大利亚尚未做到这一点。”埃尔加先生 向澳中商讯（ACBR）表示。 “这与在短期内节省电力截然不同。人们已 经了解特斯拉（Tesla）在南澳开展的储能系 统工程目的何在，即保持稳定运行，防止电 网崩溃。” “融科集团在大连建造的电池可谓是液流 电池和超大型电网级电池的基准。”

“该电池项目不仅能延长电网的储能时间， 还将拥有电网级的使用寿命。”

澳大利亚共有16所上市企业拥有符合澳大 利亚矿产储量联合委员会（JORC）规范的 钒矿资源，其中包括全球最大的两家矿产企 业，必和必拓集团（BHP Billiton）和力拓 集团（Rio Tinto）。但是目前并未开展任何 生产项目。 其他拥有大规模钒矿资源的上市公司还包 括TNG有限公司，Neometals公司，King River Copper公司，以及Surefire Resources公司。 Windimurra项目曾是澳大利亚唯一的 钒矿项目，由大西洋有限公司（Atlantic Limited）在澳洲中西部运营。然而该项目 自2014年起便已停产，进入维护阶段。 在上述拥有钒矿资源的企业中，澳大利亚 钒业公司的项目最接近于投入生产。自成 立十年以来，该公司一直致力于推进位于 中西部米卡萨拉（Meekatharra）地区的 Gabanintha项目开发。 WWW.ACBR.COM.AU

澳大利亚钒业公司的董事总经理文斯·埃 尔加表示，公司的部分发展策略将有赖于 Windimurra项目的加工设备，而这些 设备均由印尼籍亿万富翁安东尼·萨利姆 （Anthony Salim）于2016年购买。

澳大利亚钒业公司的现任总经理丹尼尔·哈 里斯（Daniel Harris）曾出任大西洋集团 的执行总裁，因此在借用设备的协商过程 中，这一身份将大有裨益。

埃尔加先生说： “这些基础设施获取困难，却 又是生产的关键设备。”

| RESOURCES

术突破得以实现，电池领域的全球钒需求量 将在五年内增长20%。”

“如今市场的供不应求状况颇为严重。在 钢铁行业的需求驱动下，钒的供应量约有 8000吨的缺口。”

澳大利亚钒业公司正在对Gabanintha项 目进行预可行性研究，并于近期委任全球矿 业营销咨询公司Mastermines，明确中国 客户群体，寻求潜在投资伙伴。

“使用大西洋集团的现有设备无疑是启动 项目的最快途径，因此我们将尽其所能地推 动合作。”

去年12月，Mastermines公司负责人大卫· 吉伦（David Gillam）代表澳大利亚钒业公 司到访中国，与众多中国钢铁生产商及数家 钒电解液供应企业举行会面。这些企业均与 融科储能公司及普能集团有合作关系。

根据埃尔加先生的分析，2017年突飞猛涨 的钒价正是Gabanintha项目飞速发展的 主要推动力。而价格的上涨不仅仅是因为 电池行业对钒的关注度日益增加，更得益 于中国提升钢筋标准而带来额外的30%需 求量。

“我们正在钢铁行业及能源领域努力寻 求投资和销售机会。 ”埃尔加先生不无期待。

“若协商失败，我们将在矿区或是杰拉尔顿 （Geraldton）地区建设加工处理工厂。”

去年8月，钒的价格达到九年以来的最高 点。截至8月底的8个月内，用于炼制钢合金 的钒铁价格上涨了近9成，而在欧洲现货市 场，用于制作电池的五氧化二钒价格涨幅更 是超过了一倍。

“考虑到钒价陡增，钒电池企业对钒的需求 实际上高于钢铁企业的需求。因为他们需要 以更低的成本生产出更低价的产品。”埃尔 加先生说道。

“能源行业的需求增长关系重大。若更多的 中国企业涉足钒电池项目，钒的需求量将呈 现极端增长，形成供不应求的市场格局。” “国际钒技术委员会（Vanitec）认为，若技

埃尔加先生亦陪同吉伦先生参与了此次访 华之旅，他对Gabanintha项目信心满满， 视其为澳大利亚最高品质的钒矿，甚至足以 跻身全球前三大钒矿场。埃尔加先生颇为欣 喜地表示中国企业对Gabanintha项目的 潜能极为关注。

“现阶段公司的主要任务是吸引正确的投 资方。”

“如今钒价骤涨，正是吸引投资的良机，从 而使公司足以在能源领域和钢铁行业双管 齐下。”

“如此一来，公司在不同领域中的业务就能 得以保障。一方面，钢铁行业受宏观经济事 件影响较大，起伏不定，而另一方面，能源市 场则较能‘独善其身’。” “相比之下能源行业发展更为稳定。若能在 能源市场和钢铁市场同时开展业务，公司将 有足够的实力拓展业务范围，并向不同的客 户提供多元化价格。” 2018年一月/二月 | JANUARY/FEBRUARY 2018

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TECHNOLOGY | 科技

佳酿管家Cellr Door

From the Cellr door – there’s no accounting for taste

As you sample your cab sav, spare a thought for the restaurateur who has to account for hundreds of bottles of the stuff. A WA startup looks to solve this problem. 查理·康宁翰 : Charlie Gunningham CELLR co-founder Chris Braine was pondering one day how high-net-worth individuals organise their wine cellars.

As problems worth solving go, it’s a nice one to have.

“It sat in the back of my mind for about a year and a half until I started to think about automation and commercial wine programs,” Mr Braine told Startup News.

“The two of us (he and co-founder Mick Mickel) instantly gelled on the idea and our passion for solving this problem took over.”

Inventory management for restaurants, hotels and wine bars is a problem that causes a lot of headaches, and wastes a lot of time and money.

At the moment, every bottle has to be accounted for in the end of month stocktaking, and the process takes hours of pain-staking manual work.

As the head sommelier from the State 28

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Buildings (in Perth) told Mr Braine: “If you can stop me and my staff pulling our hair out at the end of the month, we’d all be very appreciative.”

The Cellr solution uses RFID – radio frequency identification – technologies (basically a small sticker placed on each bottle) so that any bottle taken out of the cellar can be tracked.

If it’s sold, this can be tallied with accounts.

If one wine is running out, the system knows and orders can be placed. At any moment, the client knows where their wine is, and how much they have of each.

End of month reporting becomes far simpler as the stocktaking is done in real time.

Considering restaurants and hotels have so much money invested in wine, it is incredible such a system has not been in place before.

While point of sale (POS) systems have been around for ages, no one seems to have

turned their mind to the wine stock problem.

“Globally, we believe there are about 4.8 million target customers (about 30 per cent of all establishments),” Mr Braine told Startup News.

“Being a B2B SaaS-style (software as a service) solution, our route to market is driven by a modern outbound marketing strategy.

“We build a list and start calling and emailing the owner, or sommelier. We have a large network in this industry to start our journey in.”

Cellr also works with key wine distributors as a channel to market.

The business is self-funded to date, and is looking to open up a seed capital round soon.

The system is in beta testing, with two commercial establishments about to push the button on a three-month trial. Between these two venues, Cellr will be tagging 8,500 bottles of wine.

The business is on the cusp of finding out

科技

| TECHNOLOGY

Globally, we believe there are about 4.8 million target customers – Chris Braine 摘要：我们预计全球目标客户约有480万。 ——克里斯·布雷恩

查理·康宁翰 : Charlie Gunningham 初创新闻 : Startup News

This article was originally published online at http://www.startupnews.com.au 文章来源：http://www.startupnews.com.au

DREAMER A daydream has turned into a startup business for Cellr co-founder Chris Braine. Photo: Startup News 梦想家 克里斯·布雷恩（Chris Braine）梦想 成真，如今已是初创企业Cellr公司（Cellr） 的创始人之一。照片来源：初创新闻

餐饮经营者最大的难题之一便是如何从成百上千瓶葡萄酒中挑选出您最钟爱的那 支赤霞珠。一家来自西澳大利亚的初创公司正为该库管问题带来福音。 故事起源于克里斯·布莱恩对高净值人群管 理酒窖的一次沉思。若能完美攻克难题，必 将皆大欢喜。

“这个问题困扰了我足足一年半，直到我开 始考虑自动化与商品酒项目时才似乎有了 些眉目，”布雷恩在接受初创新闻采访时说。 “我们两人一拍即合（他与创始人米克·米 克尔），随即决定合力解决这个难题。 ”

餐馆、酒店与酒吧的库存管理问题不胜其 烦，更耗费了大量时间与精力。

if the problem they have identified is real, and if their solution solves it.

After this, they will find out if users will actually pay them to have this problem solved, and if they have a business. It’s an exciting, if nerve-wracking, time.

What advice does Mr Braine have for people thinking of diving into a startup?

“Validate the #$%^ out of your idea and business model,” he said.

“Not with friends, but the actual market.

The quicker you can speak to real customers, the faster you’ll know if they will be prepared to pay you for your product/services.

“This may seem a little scary without an actual product to sell, but trust me, if it is a real problem they want solved … they will pretty quickly build your initial product strategy for you if you listen.”

“Also, don’t lie to yourself. It is easy to say ‘I’m working on a startup’, but if it’s only motion and not progress then you’re dead.

Enjoy.”

WWW.ACBR.COM.AU

现在，每个月末盘点库存的时候都需要进行 人工核对，往往过程艰辛，且耗时颇长。 国务大厦（珀斯）的首席酒侍告诉布雷恩： “ 如果你能将我和同事从每月底的千头万绪 中解救出来，我们将不胜感激。 ”

Cellr公司采用RFID技术，即无线射频识别 技术对酒窖里的每一瓶酒进行追踪——只 需一小张贴纸即可实现酒瓶定位。

每瓶酒一经售出，数据便会同步至相应账 户。因此若一款酒即将售罄，系统便能根据 存量数据提交订单，进行订购。客户任何时 候都能了解自己的酒所在何处，以及每款酒 的剩余数量。 通过这样的实时记录，月底的统计难题无疑 将迎刃而解。

“我们提供的是企业间软件即服务的解决 方案，公司的市场路线则由现代型对外营销 策略驱动。 ” “我们首先建立了一个销售名单，然后陆续 通过电话和邮件联系店家或酒侍。毋庸置 疑，在葡萄酒领域广泛的人脉网络对企业的 初始发展裨益良多。 ” 同时，Cellr公司还与主要的葡萄酒经销商 进行合作，开辟了进入市场的新渠道。

迄今为止均自筹资金的Cellr公司正在寻求 机会进行种子资本融资。

新系统正在进行验收测试，目前已有两家 企业将进入为期三个月的试用阶段。届时 Cellr公司将为8500瓶红酒贴上追踪标签。 大家都拭目以待着Cellr公司提出的问题是 否确有其事，他们的解决方案可否奏效。 至此，Cellr公司只需静观其变，待客户为其 解决方案付出相应的报酬。当然，每笔生意 的达成都是令人兴奋的。 布雷恩对即将扬帆起航的自主创业者又有 何建议呢？

“首先需要验证你的想法与商业模式是否 可靠，”他说。

但令人惊讶的是，尽管酒店宾馆在葡萄酒方 面花费颇多，这样的系统却从未投入使用。

“不只是朋友间的侃侃而谈，而要着眼于当 前市场。你越快与真正的消费者打交道，就 越容易了解他们是否愿意为你的产品和服 务买单。 ”

“我们预计全球目标客户约有480万（占整 个行业的三成左右），”布雷恩告诉初创新闻 的记者。

“另外，千万不要自欺欺人。谁都会说‘我在 创业’ ，但如果仅仅是纸上谈兵，那就基本没 戏了。无论如何，祝各位好运。 ”

尽管销售点终端信息系统（POS）已经普及 多年，但似乎并未用于解决葡萄酒库存问 题。

“当两手空空时，你或许觉得心虚。但只要 客户确有问题需要解决，他们必然会给出大 量的初始建议，与你共同建立产品策略。 ”

2018年一月/二月 | JANUARY/FEBRUARY 2018

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TECHNOLOGY | 科技 DIVERGENT Tencent’s monetisation strategy for its social networks is a stark contrast to Facebook’s. Photo: Shutterstock.com 大相径庭 腾讯公司的货币化策略与 Facebook截然不同。

Salvatore Canale Professor of Finance, IMD Business School Ivy Buche Business Transformation Project Manager, IMD Business School 萨尔瓦托·卡纳莱（Salvatore Canale） 瑞士洛桑商学院（IMD Business School）金融学教授 艾薇·布邱（Ivy Buche） 瑞士洛桑商学院（IMD Business School） 企业转型项目经理

无需广告加持，且看腾讯如何成为最高市值的社交网络公司

How Tencent became the most valuable social network firm – with barely any advertising CHINESE technology giant Tencent recently overtook US rival Facebook to become the world’s most valuable social network company, with a market capitalisation of $US540 billion.

Yet it is sitting on an advertising goldmine.

Just 18 per cent of its total revenue in the 2016 fiscal year came from online advertising.

Compare this with Facebook’s model: advertising makes up 98 per cent of its total revenue.

So why has Tencent not yet made the most of its advertising potential?

To answer this, we need to understand Tencent’s monetisation strategy – and its philosophy on user experience. We need to go back to the company’s early days.

Co-founded in 1998 by Ma Huateng (better known as Pony Ma) and four friends, Tencent launched its first product in 1999 – a free PCbased instant messaging service called OICQ, later renamed QQ. It secured one million users in the first year but the company remained unprofitable.

It was only in 2001, following the launch of the MobileQQ messaging platform for mobile phones, that Tencent turned its first profit – $US1.2 million ($1.5 million) on sales of $US5.9 million. Three years later, Tencent was listed on the Hong Kong Stock Exchange.

In 2005, it introduced Qzone – a multimedia social networking service. By 2010, thanks to Pony Ma’s decision to open up Qzone to apps 30

AUSTRALIA CHINA BUSINESS REVIEW | 澳中商讯

from third-party developers, Qzone was the largest social networking platform in China with 492 million active users.

Capitalising on the growing importance of mobile, WeChat was born in 2011. Since then, Tencent has added official accounts, payment services, a game centre and even an office chat app to WeChat. The app has become a central part of modern Chinese life.

Investors rewarded the company for its successful growth. The company’s market capitalisation grew with a five-year compound annual growth rate of 40 per cent for 201116 and it broke into the league of the top 10 most valuable listed companies in the world in April 2017.

Tencent’s monetisation strategy so far has been counterintuitive to the traditional way of doing business: where companies first create a product or service and then seek customers.

In contrast, Tencent started with a distribution platform and built its reach before moving on to monetise its diverse applications.

Its biggest revenue stream through the 2010s has been value-added services.

This is mainly from smartphone and PCbased gaming, and also from social networking (digital content subscriptions, membership subscriptions and selling virtual goods) – accounting for over 70 per cent of its total revenue. The rest has come from online advertising and e-commerce.

Gaming has thus developed into Tencent’s core revenue stream. By 2020, mobile gaming is expected to be larger than all traditional platforms for games (such as console and PC) and Tencent has positioned itself at the forefront of this race.

Since the inception of online gaming, Tencent has meticulously worked towards securing its position as the largest developer and operator of online games for desktop personal computers.

It turned its attention to mobile gaming in 2013 by launching game centres in Mobile QQ and WeChat, giving it a large mobile games user base.

Over the past few years it has focused on the global gaming market, buying stakes in or making large acquisitions of overseas gaming companies, thus becoming the world’s largest online gaming company – controlling a 13 per cent market share. Its game revenues passed the $US10 billion mark in its 2016 fiscal year.

In mid-2017, when the Chinese government accused it of causing gaming addiction with its mobile game Honour of Kings, the biggest game ever in China, Tencent restricted playtime for younger users at home.

But at the same time, it brought the game to Western markets, launching Honour of Kings in Europe, North and South America under the new name Arena of Valor. Clearly, the

科技 world is Tencent’s playground for the online gaming business.

In this context, it’s perhaps unsurprising Tencent has not yet felt the need to leverage the advertising potential of WeChat – it’s had plenty of other profitable revenue streams to focus on.

That being said, advertising revenue has increased at more than 50 per cent year on year since 2013, to make up 18 per cent of total revenue in 2016. It is clear this is definitely a growing revenue stream.

Tencent launched ads in its WeChat official accounts, which brands use to interact with customers, in mid-2014, and WeChat Moment (the photo-sharing app) in early 2015.

In 2017, Tencent claimed it had the ability to build “a whole advertising ecosystem”, providing tech, data, content, media and so on.

近日，中国的技术巨头腾讯公司超越美国 的竞争对手Facebook，以高达5400亿美 元的市场总值成为全球市值最高的社交网 络企业。 而这仅仅只是一个开始——腾讯公司正坐 拥金矿般的广告市场。

在2016财年中，腾讯公司的线上广告收入 仅占其总收入的18%。相较而言，其竞争对 手Facebook的广告收入占比高达98%。 为何腾讯公司尚未发掘广告领域的最大潜 力呢？ 解答这一问题之前，我们需要对腾讯公司 的货币化策略以及用户体验原则有所了 解。一切都始于公司创立之初。

1998年马化腾（Pony Ma）及其四位朋友 共同创立了腾讯公司，并于1999年推出了 第一款产品——免费的电脑即时通讯软件 OICQ，即后来的QQ。这款软件推出的第一 年就获得了100万注册用户，但即使这样， 公司仍旧毫无收益。 直到2001年推出手机QQ之后，腾讯才从 590万美元的销售额中获得了第一笔120 万美元的利润。三年后，腾讯公司在香港交 易所上市。

2005年多媒体社交网络服务QQ空间横空 出世，随后马化腾决定向第三方开发者开 放QQ空间，在这一决策的推动下，2010年 QQ空间的活跃用户达到了4.92亿，成为中 国最大的社交网络平台。 随着手机在人们生活中的重要性与日俱 增，微信应用于2011年应运而生。此后腾 讯陆续推出了公众账号、支付服务、游戏中 心、甚至企业微信等功能。如今，微信已成 为现代中国生活中的重要组成部分。

公司的成功发展获得了投资者的丰厚回 报。在2011年至2016年这五年间，腾讯公 司的市值年增长率达到40%。2017年4月， 腾讯公司成功进入全球前十大市值企业。

Tencent is just beginning to scratch the surface of the potential advertising goldmine 如今的腾讯还仅仅只是 触及了广告“金矿”的冰 山一角。

的经商之道背道相驰。通常而言，企业先推 出产品或服务，随后才开始寻找客户。 腾讯公司则反其道而行之，首先通过分销 平台建立起用户群体，然后再推出各类应 用以实现货币化过程。

在2010年代，腾讯公司最大的收入流来自 其增值业务。

智能手机和计算机平台的游戏服务以及社 交网络服务（包括订阅数字内容，认购会 员，及销售虚拟商品等）是腾讯公司的主 要收入来源，提供的收益超过了总收入的 70%。而余下的收入则来自线上广告及电 子商务等业务。

因此，游戏服务逐渐发展为腾讯公司的核 心收入业务。据估计，到2020年，手机端的 游戏业务将超过所有的传统游戏平台（如 电视游戏和计算机游戏平台），而腾讯公司 在此领域早已遥遥领先。 早在线上游戏初露头角之时，腾讯公司便 已孜孜以求，致力于成为最大的计算机线 上游戏开发者和运营商。

2013年腾讯开始聚焦于手机游戏领域，陆 续在手机QQ和微信应用中推出游戏中心， 从而获得了大规模的手机游戏用户基础。 在过去几年间，腾讯开始关注全球游戏市 场，并通过购买股票或大规模收购海外游 戏公司控制了13%的市场份额，一举成为 全球最大的线上游戏企业。2016财年，腾讯 公司的游戏收入突破了百亿美元大关。 2017年中期，针对手机游戏“王者荣耀”引 起的游戏成瘾状况，中国政府提出谴责， 因此腾讯公司对这款中国有史以来最大 的游戏进行了调整，限制年轻玩家的在线 游戏时间。

But it has exercised careful control over the number of ads on people’s feeds to ensure they would not have an adverse effect on the user experience.

For example, WeChat limited the number of native ads shown in a user’s WeChat Moments feed to one per day. It is highly conscious of the challenge to balance its monetisation efforts with the tolerance of its user base for advertisements.

According to news reports in late 2017, Tencent was still not getting more aggressive on advertising because it was working on understanding its users for better targeting – to increase the likelihood of people clicking the ads.

Hence, targeted advertising using behaviour data can become Tencent’s engine for growth in coming years. Tencent is just beginning to scratch the surface of the potential advertising goldmine.

但与此同时，腾讯公司将“王者荣耀”更名 为“勇士竞技场” （Arena of Valor），在欧 洲、北美、及南美等西方市场中推出。毋庸 置疑，在线上游戏领域中腾讯公司已在世 界舞台上大展拳脚。 在这样的情况下，腾讯的盈利渠道不可枚 举，因此公司并不热衷于发掘微信平台的 广告潜力亦不足为奇。

尽管如此，2013年以来腾讯公司的广告收 入仍旧以50%的年增长率持续上升，到 2016年已占其总收入的18%。毫无疑问广 告领域的收益仍将日渐增长。

2014年中期腾讯开始在微信的公众号平台 发布广告，各品牌通过这一渠道与顾客进 行交互。2015年初，微信朋友圈（照片分享 功能）亦开始刊登广告内容。 2017年腾讯宣布公司的实力足以建立起“ 一个完整的广告生态系统”，提供技术、数 据、内容、媒体以及其他服务。 为了确保用户体验不受到消极影响，腾讯 对投放的广告数量谨慎管制。

举例来说，每位用户微信朋友圈的原生广 告数量限制在每日一条以内。如何平衡企 业的货币化政策与用户对广告的容忍度无 疑是一种挑战，而腾讯公司对此高度重视。 根据2017年年底的新闻报道，腾讯尚未进 一步发掘广告领域，而是尝试更好地理解 用户，以便确定目标受众，增加用户点击广 告的几率。 因此在未来几年，腾讯可能将通过用户的 行为数据来制定定向广告，从而推动公司 的进一步发展。如今的腾讯还仅仅只是触 及了广告“金矿”的冰山一角。

This article originally appeared on The Conversation, its contents are the view of its author(s) and publication does not constitute endorsement by Australia China Business Review.

本文原载于The Conversation。文中观点仅为作者之意， 出版此文不代表澳中商讯观点。

迄今为止，腾讯公司的货币化策略与传统 WWW.ACBR.COM.AU

| TECHNOLOGY

2018年一月/二月 | JANUARY/FEBRUARY 2018

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ECONOMICS | 经济 HIGH TECH Drones were one segment of consumer electronics to exhibit solid growth in 2017. Photo: Aaron Burden 科技前沿 2017年，消费型电子产品中的 无人机行业稳健增长。照片来源：亚伦·博登 （Aaron Burden）运作。

中国制造主宰2018年经济趋势

Made in China to power 2018 growth 本刊记者 : Staff reporter

A RECOVERY in China’s increasingly hightech manufacturing sector has been tipped to bolster economic growth through 2018, after a near seven-year slowdown was halted in last year.

Research by HSBC Economics showed China’s economy was surprisingly resilient in 2017, with data released late last year indicating growth of 6.8 per cent through the first three quarters of the year.

A major contributor to Chinese growth was the manufacturing sector, which HSBC said bottomed out in mid-2016 before rebounding last year.

Investment in Chinese manufacturing rose by 4 per cent in 2017, with HSBC describing the sector as one of the country’s most productive and competitive, as well as an effective anchor for growth.

HSBC said the improving state of manufacturing in China was driven by widespread industrial upgrades, as the ‘Made in China’ label transitions from having negative, cheaply made connotations to representing high technology.

Manufacturing sectors that exhibited significant growth in 2017 included specialised equipment, automobiles, rail, ship, aircraft, spacecraft and other transport, electrical machinery, computers and consumer electronics.

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AUSTRALIA CHINA BUSINESS REVIEW | 澳中商讯

Combined, so-called ‘new sectors’ in China grew by 8.4 per cent in the 12 months to the end of October, in sharp contrast to declines in ‘old sector’ manufacturing – food processing, food manufacturing, textiles, chemical materials and products, medical and pharmaceuticals, plastics, minerals and ferrous metals.

HSBC said a key factor in the progression towards higher value-add products was private sector investment.

“We think China’s manufacturing sector is on the cusp of a three- to five-year recovery, led by its private sector businesses and ‘upgrading’ related investment,” HSBC said.

“There are two pillars that support this process, the domestic and the external.

“Domestic themes, such as the shift to automation and smart manufacturing, the digitisation of services, middle-class consumption, combined with China’s move towards higher value-add manufacturing, is one factor that will power the manufacturing recovery.”

Overall, China’s economy contributed around a third of global growth in 2017, according to new research released by the United Nations.

The UN’s World Economic Situation and Prospects 2018, released last month, showed China’s GDP growth was expected to come in around 6.8 per cent for 2017.

State news website China.org.cn also pointed to the higher-end manufacturing base in China as its key driver of economic growth.

In the first half of last year, total drone exports rose by 93.4 per cent, while automobile exports from China were up 32.5 per cent over the same period.

China’s Belt and Road Initiative is expected to be a boon to global growth throughout 2018, following the announcement of a ¥100 billion ($19.6 billion) investment in the Silk Road Fund last year.

China also invested more than $US12 billion ($15.3 billion) in countries along the Belt and Road route in 2017.

“There has been continued pessimistic talk regarding China’s economic development,” China.org.cn said.

“There are also worries and fears that disasters will possibly be inflicted on the world economy by such a large entity as China once it gets into a period of high risk.

“However, China’s performance has never let the world down. The Central Economic Work Conference recently held in Beijing stressed high-quality development, sending a clear message that China continues to be a main driver powering world economic growth and plays a stabilising role in world economic development.

“The dividends of China’s economic development will continue to be shared by the world.”

A report by international research and consulting agency McKinsey & Co indicated Chinese outbound investment is poised for further recovery in 2018, after 2017 was marked by changes in capital outflow regulations.

McKinsey & Co said global Chinese investment in artificial intelligence, the internet of things and a wide range of financial, medical and education startups was ready to take off in 2019.

However, political pushback in the United States could lead Chinese investors to target Israel, Scandinavia and the United Kingdom, the report said.

“Many Chinese investors will simply assume that they could not get approval for investment in the United States, and so won’t try,” McKinsey & Co said.

“If US-China economic relations deteriorate significantly, we even might see real pressure to break up deals consumated in years past.”

Chart Chart 3.

3. Manufacturing Manufacturing recovery recovery to to contin contin FAI breakdown YoY%, 3mma YoY | ECONOMICS breakdown YoY%, 3mma 经济 FAI YoY %, %, 3mm 3mm

去年起中国的高科技制造领域不再陷于历 时近七年的发展减速困境。如今，该领域的 持续恢复将推动2018年的经济增长。

汇丰经济（HSBC Economics）的调查研究 表明，2017年的中国经济极富韧性，根据去 年年底发布的数据，去年第一季度中国经济 增长了6.8%。

ECONOMICS ● ASIA 制造业则正是推动中国发展的一个主要因 ● ONOMICS ASIAQ1 2018 素。汇丰银行指出，中国的制造业在2016年 2018 中期跌入谷底，并于去年触底反弹。

2017年中国的制造业投资增长了4%。据汇 丰银行表示，制造业无疑是中国最具生产 力和竞争力的领域之一，亦是经济发展的 重要依托。

30 30 25 MANUFACTURING RECOVERY TO CONTINUE25 20 Chart 制造业持续复苏 3. Manufacturing recovery to continue 15 15 FAI breakdown YoY%, 3mma YoY %, 3mma 10 10 30 30 55

25

Chart 4. Driven by ‘upgradin 25

25

00 20 -5 -5 15 -10 -10 1012 12

20 15

10 5

20

 FIA15 Fixed asset Investment 3mma 3 month moving average

10

13 13

5

Source: CEIC, Source: HSBC Source: CEIC, HSBC HSBC -5CEIC,

-10

15 15

16 16

17 17

(incl 0 Manufacturing Manufacturing (incl industrial) industrial) Manufacturing

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14 Property 5 Property

Infrastructure Infrastructure Infrastructure



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We expect the housing market to 2014 来源： CEIC,HSBC 13 14 recovery 15 17 also We also expect the housing market2015 to slow slow in in2 汇丰银行还指出，中国制造领域的改善得益 Chart123. Manufacturing to16continue Chart 4.2013 Driven by ‘upgrading’ Property growing 7.8% sceptics this 于广泛的产业升级。 “中国制造” 这一标签逐 Chart 3.

Manufacturing recovery 4. Driven this year, year, growing 7.8% y-o-y y-o-y in in the the ff "new" manufacturing Infrastructure FAI breakdown ChartYoY YoY%, 3mma to continue %, 3mma by ‘upgrading’ % YoY 30such as housing starts point to a co 渐摆脱了低质量和廉价的暗示，开始展示出 30 30 indicators Manufacturing (incl industrial) FAI breakdown YoY%, 3mma YoY %, 3mma % YoY indicators such as housing starts point to a co 30 高科技形象。 25 Source: CEIC, HSBC 30 30 25 DRIVEN BY ‘UPGRADING’ 25 Source: CEIC, HSBC After increasing nearly 25% in 2016, housing 25 20 25 to continue 25 2017年间呈现显著增长的制药业包括： 专 art 3. Manufacturing recovery Chart 4. Driven by ‘upgrading’ 20 20 产业升级推动发展 In fact, the latest reading from October shows 20 用设备制造，汽车制造，铁轨制造， 船舶制 15 in nearly three years. The slowdo 20 YoY %, 20 15 15 contraction FAI breakdown Y%, 3mma 3mma % YoY We also expect the housing market to slow in 2018. The strength the housing mar contraction in nearly threeofyears.

The slowdo 造，飞机、宇宙飞船、及其他交通工具制造， 30 15 30 15 15 10 10 10 电力机械制造，计算机及消费型电子产品 recent months.

While the divergence between sceptics this year, growing 7.8% y-o-y in the first 10 months of the year.

Nonetheless 25 10 25 10 10 5 5 5 制造等。 (Tier Tier cities) rest (Tier 3 3inand and Tier 4 4investment cities) remains, remains, activity indicators such as housing starts point to arest cooling property overactivity the ne 5 20 5 5 0 20 0 0 截至10月底，这些“新兴产业”在12个月内 are still being tightened, including slower disb After increasing nearly 25% in 02016, housing sales growth has moderated to 10.3% 15 0 0 -5 15 实现了8.4%的增长，而传统制造业则相形 -5 -5 rate discounts.

Based onfell the6.0% historical relation In10fact, the latest reading from -5October shows that-10 housing sales y-o-y, the 见绌，食品加工，食品制造， -5纺织，化学材料 -5 -10 -10 10 property investment to slow from 7.8% to 4.5% property investment to slow from 7.8% to 4.5% 及产品，医疗设备及药物，塑料生产，矿业

2013 has2014 2015 more 2016broa contraction in sales also become -10 16The slowdown 13in nearly 14 three 17 -10 -10 15years.

5 12 5 Property 及黑色金属生产等行业均不增反降， 形成 2013 between 2014 2015 2016 2017 12 13 14 recent 15 months.

16 While 17 the divergence premium markets (Tier 1 and "new" manufacturing 'old'Tier manu ‘new’ manufacturing Apart from a housing market, headwi Infrastructure Apartthe from a slower slower housing market, headwi 0 Property 0 鲜明反差。 Manufacturing (incl industrial) "new" manufacturing 'old' manufacturing ‘old’ manufacturing Infrastructure rest has eased in arestructuring more across-the-board reforms, including state-owned -5 (Tier 3 and Tier 4 cities) remains, activity reforms, including restructuring state-owned e e -5 据汇丰银行称，私营企业投资是行业向高附

12

加值产品发展的关键推动力。 Source: CEIC, HSBC -10 13 14 15 16 17 “我们认为，如今中国的制造业正处于三到

Manufacturing Source: (incl CEIC,industrial) HSBC

Source: CEIC, HSBC

outline reforms’ becoming Source: CEIC, HSBC are slower disbursement of mortgage loansis remov outline of of ‘supply-side ‘supply-side reforms’ isand becoming -10 still being tightened, including Source: CEIC, HSBC 2014Based2015 2016 2017 来源： CEIC,HSBC industries.between Reductions in overcapacity in 20 rate2013 discounts. on the historical relationship sales, starts and investm Reductions in housing overcapacity 20 We also expect the housing market to slow inindustries.

2018. The strength of the marketinhas Property corporate profitability in the current cycle.

M 五年恢复期的最高峰， 其中私营企业以及升 property investment to slow from 7.8% to 4.5% by end-2018. corporate profitability in the current cycle.

M "new" manufacturing 'old' manufacturing Infrastructure We also expect the housing market to slow in 2018.

They-o-y strength the10 housing market defied sceptics this year, growing 7.8% in theoffirst months of thehas year.

Nonetheless, leadin 级类投资正是引领行业发展的中坚力量。 ” Manufacturing (incl industrial)

unprofitable SOEs. Secondly, environmenta unprofitable SOEs. Secondly, environmenta sceptics this year, growing 7.8% such y-o-yas in the first 10 months year.

Nonetheless, leading indicators housing starts pointoftothe a cooling in property investment over the next Apart from to growth could also come from12 fam Source: CEIC, HSBC a slower housing market, headwinds with enforcement enhanced by national and with enforcement enhanced by national and indicators such as housing starts point to a cooling in property investment over the next 12 months.

After increasing nearly 25% in 2016, housing sales growth has moderated to 10.3% y-o-y th 国内，更包括国际方面的支持。” reforms, including restructuring state-owned enterprises (SOEs).

After some false sta agenda will likely remain a key aspect of agenda will likely remain ayear. key aspect of indu indu After increasing nearlyIn25% 2016, housing sales has moderated tosector 10.3% y-o-y this fact,inthe latest reading fromgrowth October shows that housing sales fell 6.0% y-o-y, the biggest We think China’s manufacturing is on the outline of ‘supply-side reforms’ becoming clearer.

The first step wasis cutlikely exc also expect the housing market to slow in 2018.

The strength of the housing marketissales has defied “国内行业的主旋律， 诸如向自动化和智能 mixed ownership reform also Lastly, mixed ownership reform is to also likely In fact, the latest reading from October shows housing fellLastly, 6.0% y-o-y, the contraction in nearly years.

Thefive-year slowdown inrecovery sales has also become more broad-base cusp ofthree a that threeto –biggest HSBC

: CEIC, HSBC “支撑行业发展的支柱力量不仅来自中国

制造的转变， 服务行业数字化， industries.

Reductions in sales overcapacity in 2017more have helped to contribute to the tu ptics this year, growing 7.8%contraction y-o-y中产阶层消 in theinfirst 10 three months of the year.

Nonetheless, leading nearly years.

The slowdown in has also become in 1 and Tier recent months.

While the divergence between the premiumbroad-based markets (Tier 2 cities 费力等，与中国朝向更高附加值制造业的 cators such as housing共同推动着制造业的日 startsrecent point months. to a cooling property investment over the next 12 months. corporate profitability in the current cycle.

More will be done next year, particular Whileinthe divergence between the premium markets (Tier 1 and Tier 2 cities) and the 发展步伐相结合， 我们认为， 如今中国的制造业正处于三到五年恢复期 rest (Tier 3 and Tier 4 cities) remains, activity has eased in a more across-the-board Chart 5. Changing export product manne mix 渐复兴。 ” r increasing nearly 25% in 2016, housing has moderated to 10.3% y-o-y this year. unprofitable SOEs. Secondly, environmental policies have been continuously rest (Tier 3 andsales Tier 4growth cities) remains, activity has eased in a more across-the-board manner.

Policies 的最高峰。 ——汇丰银行 are still being tightened, including slower disbursement of mortgage loans and removal oftigh in act, the 根据美国新发布的调查结果显示， latest reading from October that housing salesslower fellBased 6.0% y-o-y, theby biggest with enforcement enhanced national and regional inspections.

We think the e are still shows being tightened, including disbursement of mortgage loans and removal of interest 2017年 Contribution to grow th (pp.) rate discounts. on the historical relationship between sales, starts and investment, we Contribution to grow th (pp.)

15 15 中国为全球经济增长的贡献高达约三分之 raction in nearly three years.rate Thediscounts. slowdown in sales hashistorical also become broad-based Based on the relationship between sales, and investment, we and expect agenda will likely remain key7.8% aspect ofinstarts industrial, urbanisation regional develo property investment to more slow afrom to 4.5% by end-2018. 一。 10 property investment to Lastly, slow from 7.8%ownership to 4.5% byreform end-2018. ent months. While the divergence between the premium markets (Tier 1 and Tier 2 is cities) the mixed also and likely to be implemented in more sectors in th 10 Apart from a slower housing market,针 headwinds to growth could also come from faster su 联合国已于上个月发布2018年世界经济形 中国网China.org.cn表示： “ 一直以来， 境外投资将进一步得以恢复。 (Tier 3 and Tier 4 cities) remains, activity has eased in a more across-the-board manner. Policies 势与展望，表明2017年中国的预期GDP增 Apart from a slower housing market, headwinds to growth could also come fasterAfter supply-side 5 对中国经济发展的悲观论调不绝于耳。 ” reforms, including restructuring state-owned麦肯锡公司指出， enterprisesfrom (SOEs). some false starts, the 中国在全球范围内对人 still being tightened, including slower disbursement of mortgage loans and removal of interest 长为6.8%。 reforms, including restructuring state-owned enterprises (SOEs).

After some false starts, the broader Chart 5.

Changing export product mix Chart 6.

The global capex cyc outline of ‘supply-side reforms’ is becoming clearer.

The first step was to cut excess ca 工智能， “更有人担心，一旦中国进入高风险阶段， 00 物联网，金融业，医学及教育等广 discounts.

Based on the historical between sales, starts andclearer. investment, westep expect 中国官方新闻网站China.org.cn亦指出， continue to support exports outline relationship of ‘supply-side reforms’ is becoming The first was to cut excess capacity in 泛领域进行的投资， 将于2019年突飞猛 世界经济可能将面临灾难。 ” industries. Reductions in overcapacity in 2017 have helped to contribute to the turnarou 高端制造业正是中国经济增长的关键推动 perty investment to slow fromindustries.

7.8% to 4.5% by end-2018. 涨。 -5 Reductions in overcapacity in 2017 have helped to contribute to the turnaround in YoY% -5

“但是中国从未让世界失望。 近日于北京 corporate profitability the current cycle. More will be done Contribution to grow th in (pp.)

30 next year, particularly to re 15 15 同时报告亦提到， 由于美国的政治性回撤， corporate profitability召开的中央经济工作会议重点强调高质发 in the current cycle.Secondly, More will environmental be done next year, particularly to restructure unprofitable SOEs. policies have been continuously tightened -10 rt from去年上半年， a slower housing market, headwinds to growth could also come from faster supply-side -10 中国的无人机出口增长了 中国投资者可能会将目光集中到以色列， 展， 明确地表达出中国将继续为世界经济 20 unprofitable SOEs. Secondly, environmental policies have been continuously tightened in 2017, Nov-16 Feb-17 May-17 Aug-17 Nov-17 10(SOEs).

10 with enforcement enhanced national and regional We think the environm Nov-16 inspections.

Feb-17 May-17 Aug-17 Nov-17 93.4%，而同期汽车出口亦增长了32.5%。 rms, including restructuring state-owned enterprises After some falseby starts, the broader 斯堪的纳维亚， 以及英国等地。 贡献力量， 成为世界经济增长的主要动力 Agricultural High-tech Agricultural High-tech 10 with enforcement enhanced by national and regional inspections.

We think the environmental agenda will likely remain a key aspect of industrial, urbanisation and regional development 源和稳定器。 ” Labour Others ne of ‘supply-side reforms’ is becoming clearer.

The first step was to cut excess capacity in5 Labour Intensi Intensivv ee Others 继去年宣布为丝路基金投资1千亿人民币 “很多中国投资者可能认为自身无法获得 5a key agenda will likely remain aspect of industrial, urbanisation and regional development policies.

Exports 0 Lastly, mixed ownership reform is also likely to be implemented in more sectors in the com Exports 中国提出“一带一路” 因而直接放弃美国。”麦 “中国经济发展的红利将继续为世界共 ustries.（196亿澳元） Reductions之后， in overcapacity in 2017 have helped to contribute to the turnaround美国的投资许可， in Lastly, mixed ownership reform is also likely to be implemented in more sectors in the coming year. 计划，有望在2018年惠及全球经济增长。 肯锡公司表示。 享。 ” 0 -10 Source: porate profitability in the current cycle. More will be0 done next year, particularly to restructure Source: CEIC, CEIC, HSBC HSBC 力。

此外2017年间，中国还在“一带一路”的沿

国际知名管理咨询公司麦肯锡 Chart 5. Changing export product mix Chart capex cycle will -206. The global那么过去 rofitable SOEs. Secondly, environmental policies continuously tightened in“如果美中经济关系显著恶化， 2017, -5have been -5 线国家投资了超过120亿美元 （153亿澳 濒临 & Co） 的一项报告表明， 继6. The几年内达成的协议可能将面临高压， continue to support exports Chart 5. Changing （McKinsey export product mix Chart global capex cycle will enforcement inspections. We think2018年中国的 thecontinue environmental -30 破裂。 ” 2017年的资金流管理之后， 元）。 enhanced by national and regional to support exports 18 -10 Contribution -10 30 YoY% to grow th (pp.)

18and nda will likely remain a key aspect of industrial, urbanisation regional development policies.

15 15 -40 YoY% YoY% Nov-16 Feb-17 May-17 Aug-17 Nov-17 Contribution to grow th (pp.)

WWW.ACBR.COM.AU

2018年一月/二月 | JANUARY/FEBRUARY 2018 50 2008332010 20 15 2000 2002 2004 2006 ly, mixed ownership reform is15also likely to be implementedAgricultural in more sectors in30the coming High-tech year. 20 10

Source: CEIC, HSBC

10

Labour Intensiv e 10 Exports

20

Others

10

10

40 Investment, US Equipment

OPINION | 观点

Captain Walter P. Purio, CEO of LNG Marine Fuel Institute, Perth, Western Australia Colleen Harmer, Senior Research Officer, P and H Marine Australasia

中国航运业向绿 色转型 China shipping goes green WITH China framing public health as a basic human right, the country’s Marine Safety Administration is doing its part to curb the detrimental health effects of the shipping industry.

In a recent white paper, the Chinese government emphasised its commitment to protecting the health and well-being of the Chinese people.

“Prosperity for all is impossible without health for all,” the white paper said.

“Health for all is a solemn promise to the people by the CPC (Communist Party of China) and the Chinese government.”

While the report focuses on improvements to medical and health services since the party’s 18th National Congress in November 2012, the sentiment of change and progress centred on well-being is evident in areas outside the direct remit of medicine and health.

With a 2016 study finding that ship emissions cause more than 24,000 premature deaths in East Asia – 18,000 of which were in China alone – the MSA has focused its efforts on ensuring ships comply with pollution prevention measures.

The MSA aims to ensure the Chinese fleet complies with international conventions such as the International Maritime Organisation’s sulphur emissions regulation.

The regulation stipulates ships must reduce sulphur emissions from 3.5 per cent to 0.5 per 34

AUSTRALIA CHINA BUSINESS REVIEW | 澳中商讯

Walter P. Purio船长，西澳州珀斯液化天然气船用燃料机构 (LNG Marine Fuel Institute) CEO Colleen Harmer, P and H Marine澳大拉西亚区高级研究员

cent by 2020, a contentious move that was nonetheless upheld by the IMO in 2016.

According to the IMO’s head of air pollution and energy efficiency, vessels found to be non-compliant by 2020 could be detained or even rendered “unseaworthy”, thus potentially affecting indemnity in the event of an insurance claim.

The message is clear, while the cost of emission reduction compliance on ships will be high, the cost of non-compliance will, quite literally, be paralysing.

In an effort to reduce the impact of ship pollutants, and to encourage IMO and domestic regulation compliance within its waters, China expanded its Domestic Emissions Control Areas earlier this year to include all ports within the Bohai-rim Waters, the Yangtze River Delta, and the Pearl River Delta.

This means all ships at berth must use lowsulphur fuels, or be fitted with equipment to reduce noxious emissions, while in the control areas.

The Chinese government, the marine authorities and local port cities use a combination of carrot and stick measures to encourage change.

Disincentives such as fines and the detention of ships face those deemed to be noncompliant through onboard ship and bunker note inspections or random fuel oil sampling.

Financial incentives in Shenzhen, in the south of the country, encourage at-berth fuel switching, promote the use of onshore power supply and back the use of liquefied natural gas.

China’s aim to reduce ship emissions is encouraging; it is poised to be a leader in green shipping in the region, if not the world.

But key to the country’s development is collaboration. Indeed, a European study on incentive schemes for promoting green shipping implores China to adopt a harmonised and collaborative approach to encourage shipowners/operators to reduce air pollution.

Collaboration is certainly not a pipedream.

The Chinese government’s latest five-year plan aims to “put into effect the philosophy of innovative, coordinated, green, open, and shared development”.

Chinese authorities clearly recognise the need to “open up” in order to integrate into the world economy.

As a regional neighbour, Australia has the opportunity to be an integral part of China’s ever-deepening integration.

The shipping industry could be a major facilitator of change in this regard.

The LNG Marine Fuel Institute is a big believer in cross-national collaboration as the foundation of sustainable clean energy practice.

It is the basis of its engagement with key players in the LNG marine fuel sector and the reason it is a strong advocate of the Green Corridor.

The Green Corridor Joint Industry Project is a collaborative initiative to design a LNG dual-fuel Newcastlemax and very large ore carrier trading primarily between north-west Australia and China.

The LNG Marine Fuel Institute promotes, researches and produces timely and economically valuable studies to support LNG as a marine fuel in the Green Corridor between Australia and China.

We welcome and encourage the support and participation of Chinese companies in the institute.

观点

| OPINION

CLEAN UP China’s shipping industry is a big contributor to the country’s pollution problems. Photo: Shutterstock 悉心整饬 航运业无疑是造成中国 污染问题的主要因素之一。照片来 源：Shutterstock

Ships must reduce sulphur emissions from 3.5 per cent to 0.5 per cent by 2020 航运业须在2020年前将其硫排放量从3.5%降至0.5%。 随着中国日渐将公共健康作为基本人权加 以重视，中国海事局正积极采取行动，遏制 航运业对公民健康的不利影响。

只在保险索赔中的赔偿情况。

该白皮书中郑重表示“没有全民健康，就没 有全面小康”。

为降低航运业污染的影响，并促进航运业在 其管辖水域内遵守各项IMO与国内法规，中 国于今年年初扩大了其国内船舶排放控制 区，将环渤海、长三角和珠三角水域的所有 港口均纳入控制范围。

在今日发布的白皮书中，中国政府强调了其 保护人民健康与福祉的承诺。 “实现全民健康是中国共产党和中国政府 对人民的郑重承诺。 ”

该报告重点阐述了医疗健康行业自2012年 11月党的十八大以来所取得的成就，而医疗 健康以外的行业也将人民健康幸福作为改 革与发展的重心。 2016年的一项研究表明，东亚每年有至少 2.4万人过早死于由航运业排放引起的疾 病，其中中国就占到1.8万人。中国海事局就 此集中开展工作，确保船舶符合污染防控措 施的要求。 其目标是使所有的中国船只均符合国际海 事组织（IMO）硫排放规定等国际公约的要 求。

根据IMO规定，所有航运船只须在2020年 前将硫排放量从3.5%降至0.5%。尽管存在 一定争议，IMO仍于2016年通过了该决议。 IMO空气污染与能源效率负责人表示， 2020年前无法达标的船只可能会被扣留，甚 至被定义为“不适于航海”，这可能将影响船 WWW.ACBR.COM.AU

上述举措传达的信息十分明确：船只减排以 达到符合规定的排放量固然将带来高昂的 开支，但若未能达标，企业将面临无法继续 经营的惨重代价。

这就要求所有在控制区内停泊的船只均须 使用低硫燃料或安装减排设备。

中国政府、中国海事管理部门和各港口城市 采取了“软硬兼施”的措施来鼓励变革。

通过登船检查、检查燃油供应通知单或燃料 抽检等形式发现不合规的船只，并对其实施 罚款、扣留等处罚措施。

中国南部城市深圳则出台了财政奖励措施， 鼓励船只进行在港燃料更换，推广岸电，并 支持天然气的使用。 中国的航运业减排目标令人振奋；中国已做 好准备，努力成为地区甚至是全球绿色航运 的领导者。 但中国的发展离不开合作。

欧洲的一项研究探讨了各类旨在促进绿色 航运的奖励方案。该研究团队恳切地希望中 国政府能与船舶所有人和经营者通力协作，

鼓励其减少空气污染。

合作绝非脱离实际的空想。

中国的“十三五”规划将贯彻“创新、协调、绿 色、开放、共享”的发展理念。 中国政府明确了“开放”对于中国融入世界 经济的必要性。

作为中国的近邻，澳大利亚有望成为中国不 断融入世界经济这一进程的重要参与者。 而航运业有望成为这一变革的主要推动力 量之一。

LNG船用燃料机构始终坚信跨国合作是普 及可持续清洁能源的基石。

这是该机构与行业其他重要企业合作的基 础理念，亦是促进机构大力提倡“绿色走廊” 项目的主要原因。

“绿色走廊联合工业项目”是一项合作 倡议，旨在设计建造采用LNG双燃料的 Newcastlemax型散货船及超大型矿砂运 输船，用于以澳大利亚西北部与中国之间为 主的贸易航线。

LNG船用燃料机构还积极推动开展具有高 时效性和高经济价值的研究，以支持LNG作 为船用燃料用于澳大利亚与中国之间的绿 色走廊路线。 LNG船用燃料机构欢迎并鼓励广大中国公 司为机构的发展提供支持并开展合作。 2018年一月/二月 | JANUARY/FEBRUARY 2018

35

OPINION | 观点 Senior lecturer, International Law; Asian Business Law Monash University This article originally appeared on The Conversation, its contents are the view of its author and publication does not constitute endorsement

by Australia China Business Review 莫纳什大学（Monash University）国际法律及亚洲商法高级讲师 本文原载于The Conversation。本文观点属个人立场，不代表本 刊立场。

ALICE DE JONGE | 艾丽斯·德扬

Tackling big economic hurdles in 2018 IN 2017, we saw the consolidation of China’s power and influence globally, and of Communist Party leader Xi Jinping’s power nationally.

This year, the party will try to use this to tackle some of its biggest economic hurdles such as financial risk, environmental pollution and maintaining social cohesion.

A first and overriding priority will be managing and preventing major financial risks within the Chinese economy. China will continue to clean up and tighten controls over its financial sector.

Beijing has already banned risk-laden Bitcoin from its financial system, and the government says it will maintain a “proactive fiscal policy and prudent monetary policy” for 2018.

This is in line with moves earlier in 2017 to curb credit growth and consolidate the country’s 100 trillion yuan ($US15 trillion) financial services asset management industry under a single regulatory umbrella.

Regulators have also issued a 36-point code of conduct for the country’s private enterprises to follow when investing overseas.

This is part of a move to clip the wings of China’s most aggressive global dealmakers, firms like HNA Group and Fosun International.

These businesses responded enthusiastically to the government’s “going out” policy to link China to the rest of the global economy, launched at the beginning of the century.

On the one hand, China has banned investments in gambling and “sensitive” industries and restricted investments in property, hotel, film and sports. But projects linked to China’s ambitious Belt and Road initiative are actively encouraged.

So, 2018 should see a continuation of China’s expanding economic influence globally through infrastructure and other major projects.

In line with the party’s focus on stability and risk minimisation is a clear determination to move away from high-speed growth to 36

AUSTRALIA CHINA BUSINESS REVIEW | 澳中商讯

high-quality growth. Quality here means an economy that is cleaner and more user friendly.

The government is trying to reduce pollution.

Measures to close down polluting factories and make local officials more accountable for environmental damage are starting to make a difference.

A major component of the shift to a cleaner economy is China’s determination to free itself from any reliance on carbon imports. This has potentially major implications for the Australian economy, which has done so well over the past few decades largely because of its commodity exports to China.

China is also no longer willing to accept imports of Australian waste, leaving Australia with the question of how else to deal with its accumulating stockpiles.

In an unusual move during last year’s annual end-of-year economic convention, the government detailed concerns from the wider public on issues such as online scams, sex discrimination in the workplace and a lack of kindergarten services in certain regions. This reflects the party’s concern with social cohesion.

Maintaining a harmonious society has long been a concern of China’s leaders. In 2018, the anti-poverty campaign – one of Xi Jinping’s pet projects – will accelerate, with millions of rural poor being relocated to new housing with water and power.

This will not only boost GDP and economic growth figures, it’s also aimed at promoting support for the party and its leaders.

Chinese leadership’s emphasis on social harmony extends to supporting the party in its policy endeavours. A series of recent measures have been aimed at strengthening party organisations in business and civil society organisations.

In line with existing provisions in China’s company law, these measures seek to ensure that all organisations in China (local and foreign, com-

mercial and non-profit) make room within the organisation for the operations of a Communist Party cell. This allows the party to monitor and influence the operations of any organisation.

The rolling out of a social credit system is also aimed at monitoring and influencing the behaviour of both organisations and individuals.

It operates by awarding social credit points for good social behaviour, whether it be corporate philanthropy or an individual picking up rubbish on the kerbside. It also deducts points for bad behaviour, such as traffic law violations, failing to pay bills on time or domestic violence.

There are even “blacklists” for the worst offenders.

Beijing’s agenda is clear and the message from the centre is tightly controlled. But the messiness and the unknowns will lie in its local implementation.

China has always struggled, and always will struggle, with the question of how to balance direction from a central government with local implementation for local circumstances.

For example, a recent decree requiring all local areas to move away from coal-fired heating, towards natural gas, hit a snag when thousands of houses and schools were left without heating in freezing conditions in northern China. It forced authorities to back-track on implementing the policy.

The key for the government will be to strike a balance between reform and preserving stability. Aggressive reforms will be duly countered by other policies if they are seen as posing risks to economic stability.

If successful, China’s reforms will enable its economy to take the lead in adapting to a dynamic world. But the sheer size of its ambitions (both global and local) also contains the risk that failures, if they occur, could have devastating impacts.

观点

| OPINION

A major component of the shift to a cleaner economy is China’s determination to free itself from any reliance on carbon imports 中国坚定决心叫停一切 碳进口活动，亦是向更清 洁经济体转型的重要组 成部分。

2018经济形势：治乱绳，不可急

2017年中国的国家实力和全球影响力有目 共睹，而中国共产党领导人习近平的国家领 导力同样让人印象深刻。

今年，中国共产党将尝试通过其强大的实力 和影响力来解决中国面临的最大经济障碍， 如金融危机，环境污染，以及维持社会凝聚 力等。

毋庸置疑，中国的首要任务将是管控经济，防 止重大金融危机的发生。因此中国将持续整 肃金融领域并收紧管控。 北京方面已明令禁止比特币，不允许这一风 险货币在金融系统中流通。同时政府亦表明 2018年将继续采取“积极的财政政策和稳健 的货币政策”。

这与2017年年初采取的措施遥相呼应—— 抑制信贷增长，在监管的保护伞下巩固中国 价值100万亿元（约15万亿美元）的金融服务 资产管理行业。

监管部门还颁布了一项36分制的行为准则， 用以规范在海外进行投资的私人企业。 这是为了遏制在国际市场中雄心勃勃的中国 企业而采取的系列措施之一。在本世纪初，为 了与世界其他经济体联系起来，中国实施“走 出去”政策，部分企业如海航集团和复星国际 等积极响应，逐渐在国际市场上活跃起来。 一方面，中国禁止企业在赌博和“敏感”行业 进行投资，并对房地产、酒店、电影和运动等 领域的投资进行限制。另一方面，在“一带一 路”倡议下发展的相关项目得到了前所未有 的鼓励支持。 因此2018年中国的经济影响力将通过基础 设施等重大项目在全球范围内持续扩张。

除了聚焦于稳定发展和风险最小化，中国共 产党还展现出坚定的决心，将中国的经济发 展由高速增长转型为高质增长。这意味着中 国的经济发展将更加清洁，更加人性化。 WWW.ACBR.COM.AU

为了减少污染，政府关闭了高污染工厂，并要 求地方官员在环保方面承担更多责任。目前， 这些措施已经初见成效。 此外，中国坚定决心叫停一切碳进口活动， 亦是向更清洁经济体转型的重要组成部分。 这无疑给澳大利亚经济带来了巨大的潜在影 响。过去几十年间，澳大利亚良好的经济表现 在很大程度上有赖于对中国的商品出口。 同时，中国还宣布将停止接收澳大利亚的“洋 垃圾”。因此该如何处理日积月累的垃圾亦将 成为澳大利亚面临的一大问题。

在2017年年底举行的中央经济工作会议上， 中国政府一反常态，详细解读了广大公众关 心的话题，如网上诈骗，工作场合中的性别歧 视，以及部分地区儿童早期教育服务的缺乏 等。这些都反应出中国政府对社会凝聚力的 关切和重视。 一直以来，维护和谐社会是中国历届领导人 关注的重点。作为习近平主席最为重视的项 目之一，脱贫攻坚将在2018年加速发展，数 百万农村贫困人口将得到重新安置，住进供 水供电的新住房。

这一措施不仅将刺激GDP增长，加快经济发 展，还将成为共产党及其领导人获得支持的 重要举措。

中国领导人对社会和谐的关注持续拓展，从 而支持共产党在政策方面的行动。近期出台 的一系列措施便致力于加强商业领域和民间 组织中的党组织力量。 在现行的《中华人民共和国公司法》的协助 下，这些措施将确保中国的所有组织机构（ 包括本地和国外的公司，以及商业机构和非 营利机构）为共产党在其机构内的运营做出 让步。

在该体制系统中，良好的社会行为都将获得 信用奖励，无论是企业的公益慈善行为，还是 个人拾起路边的垃圾。而任何不良行为则将 遭到信用减分，如违反交通法规，未能及时支 付账单，以及家庭暴力等。 该体制甚至针对最严重的违法者设立了“黑 名单”。

北京方面计划明确，中央下达的指示亦受到 严格管控。但是具体到各个地方的实施却仍 有可能存在各种不确定性和紊乱状况。

如何平衡中央政府下达的指令和各地的实际 实施情况是中国长期以来面临的重大问题， 并且这一难题仍将使其饱受困扰。 举例来说，近日颁布的一项法令要求所有地 区停止烧煤取暖，并以天然气取而代之。但 在法令实施过程中却陷入了意料之外的窘 境——中国北方地区的数千户家庭及学校在 极其寒冷的条件下无法获得供暖。当局不得 不对该政策做出调整。 政府的关键任务是在改革和维稳之间找到 平衡。若激进的改革对经济的稳定发展带来 风险，那么改革政策无疑会遭到其他政策的 挑战。

如果改革得以成功实施，中国经济将在适应 动态世界的过程中引领全球。但无论是在国 内环境还是全球市场中，万丈青云之志的背 后亦存在失败的风险，而一旦失败，中国就将 遭受毁灭性的影响。

STRATEGIC President Xi Jinping has clear priorities for the growth of China’s economy in 2018. Photo: Xinhua News

拓展社会信用体制亦旨在监管并影响组织及 个人的举止行为。

战略布局 中国国家主席习近平对2018年中 国的经济发展规划清晰，重点明确。照片来 源：新华社

2018年一月/二月 | JANUARY/FEBRUARY 2018

37

OPINION | 观点 Duncan Calder is past national and WA president – Australia China Business Council, and managing director of Contour Capital Pty Ltd.

700 words

邓肯·考尔德曾是是澳大利亚中国工商 业委员会的全国主席及西澳分会主席， 同时还是澳中投资顾问公司（Contour Capital Pty Ltd）的董事总经理。

DUNCAN CALDER | 邓肯·考尔德

Belt and Road can open up Mid West IN May last year, China’s President Xi Jinping aptly labelled the Belt and Road Initiative as the “project of the century” that would benefit people across the world.

There is nothing more important to Australia and, in particular Western Australia, than the trajectory of China, and we need to make sure we do not waste this historic opportunity.

China’s open and inclusive Belt and Road vision is a strategic priority and Australia is one of the countries best placed to offer significant economic infrastructure projects of genuine substance in a destination of low sovereign risk.

Belt and Road provides an impetus to enable us to finally develop large, exciting infrastructure projects that we have long desired but have historically been unable to deliver.

Projects like the port, rail, pipeline and downstream processing economic infrastructure plan based around a new port at Oakajee, 22 kilometres north of Geraldton.

This is a project that can open up the Mid West of WA. It is one ideally suited to become a flagship for Sino-Australian collaboration under Belt and Road.

It has been delayed as a result of past bad decisions. But now is the time to present a China-led solution to take advantage of prevailing favourable conditions for the construction of major projects.

The Mid West, which used to be known as the Murchison, has a total area of almost 500,000 square kilometres. It is larger in size than each of Japan, Korea and Germany.

From Australia’s perspective, the Mid West is underdeveloped, being hindered by the lack of a deepwater port. China sees the region as 38

AUSTRALIA CHINA BUSINESS REVIEW | 澳中商讯

a potentially huge magnetite iron ore province where it can play a leading role.

There is a commonly held perception in Australia the iron ore story is all about hematite iron ore. There is a false impression magnetite iron ore is a new, risky industry that investors should avoid. There are good reasons why there are strong magnetite industries in the US, Russia, China and the Middle East.

The challenges of China’s initial foray into magnetite projects in WA have been well documented, but lessons have been learned and the underlying benefits and appeal of magnetite remain intact.

There are many huge-scale magnetite projects awaiting development, whereas the big hematite projects to be developed are largely located in countries with high levels of sovereign risk.

Upgraded magnetite contains lower levels of contaminants, which is reflected in significantly improved performance in the furnaces of steelmakers. CO2 emissions are also reduced.

This is important to the Chinese government and would suggest the restructure of iron ore pricing that has emerged over the past couple of years is structural and long lasting.

Magnetite iron can achieve prices more than 200 per cent higher than lower-grade iron ore that is being produced by a number of Australian operators.

This translates into magnetite producers being able to support a significantly higher capital and operating cost than DSO (direct shipping ore) operations.

Chinese mine developers in the Mid West have only been offered one solution, proposed

by Japanese company Mitsubishi. The Japan

solution was politically unappealing to Chinese companies and economically not feasible because: • China’s perception that Mitsubishi sought to subsidise its Jack Hills mine, 400 kilometres north-east of Geraldton.

• The port and rail design was seen to be over-engineered and unnecessarily costly.

• Mitsubishi sought to underwrite the project solely off foundation customer supply contracts.

Many potential innovative solutions have emerged to significantly reduce capital costs, including a jetty rather than a breakwater and dredging program, transhipment options and a network of large slurry pipelines.

There are many reasons for China to partner with WA in the Mid West: • China has already invested massively in mining projects like Sinsoteel’s Weld Range project and Ansteel’s Karara project.

• China is the end customer for the vast majority of expected production.

• China has the financial capacity to fund project costs.

• China has conducted extensive studies into the region.

• China has vast experience in major infrastructure projects.

While the federal government may be dragging its feet more than we would like in endorsing Belt and Road, the opportunity for Australian business to step up and lead the way in unlocking the attractive trade and investment opportunities afforded by Belt and Road is very clear.

Together we can make it happen.

观点

| OPINION

Belt and Road provides an impetus to enable us to finally develop large, exciting infrastructure projects 在“一带一路”的推动下，澳大利亚终于获得足够动力以 发展大规模的，激动人心的基础建设工程。

“一带一路”开辟中西部新发展 去年五月，中国国家主席习近平将“一带一 路”倡议称为造福各国人民的世纪工程。

对于澳大利亚，尤其是西澳州而言，中国的发 展轨迹无疑是重中之重，这样的历史性机遇 更是不容错过。 中国的“一带一路”倡议开放包容，是经济发 展的战略重点。而澳大利亚地理位置绝佳，主 权风险低，无疑是中国提供重大经济基础建 设工程的最佳选择之一。 在“一带一路”的推动下，澳大利亚终于获得 足够动力以发展大规模的，激动人心的基础 建设工程。这些工程是我们长期渴望却又从 来都无法付诸实施的。 例如位于杰拉尔顿（Geraldton）以北22公 里处的奥卡吉（Oakajee）港口，在该地区即 可开展港口、铁路、管道、以及下游加工等经 济基础建设工程。 该项目恰能为西澳州中西部的发展开创先 河，是在“一带一路”框架下中澳合作的理想 旗舰工程。

受到错误决策的影响，该项目曾一度搁浅。而 现在正是重整旗鼓的最佳时机，我们应利用 有利环境，在中国引导的方案下开展重大项 目的建设工作。 曾被称为默奇森（Murchison）的西澳州中 西部总面积约为50万平方公里，超过了日 本、韩国、甚至德国的国土面积。

对于澳大利亚而言，中西部地区是所谓的欠 发达地区，深水港口的缺乏严重阻碍了发展。 而中国则看到了中西部的发展潜能，将其视 作一个巨大的磁铁矿区，并认为中西部将在 矿产领域发挥主导作用。 澳大利亚的普遍观点认为，凡提及铁矿石均 关乎赤铁矿，并且错误地认为开采磁铁矿是 WWW.ACBR.COM.AU

一种全新的产业，是投资者理应避免的高风 险领域。但需要注意的是，磁铁矿产业在美 国、俄罗斯、中国、以及中东地区的繁荣发展 并非空穴来风，实为班班可考。

中国在西澳地区的首批磁铁矿项目固然面临 了诸多挑战，但亦提供了经验教训。总体而 言，磁铁矿的潜在优势和吸引力依然如初。 如今仍有许多超大规模的磁铁矿项目等待开 发，而尚未开发的大型赤铁矿项目大多位于 主权风险颇高的国家。

另一方面，改良的磁铁矿杂质含量较低，在锻 造过程中的表现显著改善，二氧化碳的排放 亦有所减少。 这对中国政府而言无疑是至关重要的，并且 也表明过去几年内对铁矿石的价格调整是一 个结构性的，长期的过程。 磁铁矿的价格足以达到一些澳大利亚运营商 生产的低质铁矿石价格的三倍之高。

著削减资产成本，例如用码头替代防波堤和 疏浚工程，不同的转运方案，以及庞大的输浆 管道网等。 事实上，中国有充足的理由与西澳合作开发 中西部地区，例如：

中国在西澳矿业领域的投资项目众多，包括 中钢集团的Weld Range项目和鞍山钢铁集 团（Ansteel）的Karara项目。 中国是绝大多数矿业产品的终端客户。 中国有足够的经济能力承担项目成本。 中国在矿业领域的研究广泛且深入。

中国在重大基础设施项目上经验丰富。

尽管联邦政府可能对“一带一路”有失偏颇， 但对澳大利亚企业而言，这无疑是吸引贸易 和投资，进一步发展企业的巨大商机。 我们携手并进，共创辉煌。

这也就意味着，相较于直运矿项目，磁铁矿 生产商将有能力负担更高的资产成本和运 营成本。

目前仅有日本三菱集团（Mitsubishi）向中 国的矿业开发商提供了在中西部进行开发的 提案。然而，对于中国企业而言，该方案缺乏 政治吸引力以及经济可行性。具体原因如下： 中国认为三菱集团意在资助其Jack Hills 矿区项目。该项目位于杰拉尔顿东北400公 里处。

港口及铁路工程设计过度，成本高昂且毫无 必要。 三菱集团仅以基础客户供应合同来承保项 目。

另一方面，诸多潜在的创新性合作方案将显

2018年一月/二月 | JANUARY/FEBRUARY 2018

39

OPINION | 观点 Sylvia Wei is Azoya’s deputy managing director for Australia. Based in Melbourne, Ms Wei delivers the value proposition of Azoya’s cross-border e-commerce solutions to retail customers and prospects in Australia, as well as establishing the company’s local partner network. For more information, visit: http://www.azoyagroup.com/ 西尔维娅·魏是正雅公司澳大利亚区的副董事总经理。魏女士在墨尔本 开展企业工作，向澳大利亚的零售客户及潜在客户提供跨境电商方案， 传达正雅公司的价值定位，并期望为公司建立当地的合作伙伴网络。获 取更多信息请访问以下网址：http://www.azoyagroup.com/

如何与中国消费者建立联系

SYLVIA WEI | 西尔维娅·魏

Top tips to connect with Chinese consumers CHINESE consumers remain immersed in a national online shopping frenzy, filling their shopping carts with merchandise from around the world last year.

The increased interest in overseas products offers Australian retailers a huge opportunity to take advantage of a booming market, but they also have to compete amid a growing price war.

With Amazon announcing its tailored Prime service for Chinese consumers in October, and Alibaba giving Tmall Global a bigger presence, cross-border ecommerce continues to go from strength to strength, despite many believing the industry now suffers from too many regulations.

Increasing sales and the popularity of overseas shopping are signs China’s affluent masses are upgrading their consumption.

This is great news because the market volume is expanding and more Australian brands will be able to find a niche in China. It also means competition is fierce, forcing retailers to find new ways to stand out and attract sales.

China’s biggest online shopping event, Single’s Day in November last year, set a record-breaking 254 billion yuan ($50 billion) of total sales.

The event’s initiator, Alibaba, recorded a billion yuan in sales in the first 52 seconds after the event started at midnight. It achieved 10 billion ($2 billion) in just three minutes.

Many retailers offered significant discounts for very short periods to create a sense of urgency.

Although a number of retailers and brands still sell at steep discounts, the proportion is relatively small.

While top-selling products have little or no 40

AUSTRALIA CHINA BUSINESS REVIEW | 澳中商讯

margin, they serve as incentives to encourage customers to buy ‘long-tail’ (less popular) products.

Retailers are aware of the real risk that customers could switch to a competitor offering better deals.

Australian retailers should build their strength in the Chinese market by optimising logistics, building brand awareness and providing better customer service.

These are tested methods and would guarantee cost reductions and strengthen customer loyalty. This is also means better quality products and services will be sustainable for Chinese consumers.

The latest Mckinsey & Company study on Chinese consumers shows that with improvement in their financial status, Chinese consumers are spending more on a wide variety of higher-quality and pricier goods and increasingly buying more services.

This was demonstrated last year, when several Chinese online celebrities toured Australia, New Zealand, UK, Japan and Germany to gain a better understanding of the authenticity and reliability of local ethical products.

They visited stores and warehouses of several retail businesses that have established ecommerce businesses in China – Pharmacy Online, Pharmacy 4 Less, Amcal, Pharmacy Direct, Kiwi Discovery, Feelunique, Matsuya Ginza and Bodyguard Apotheke.

The celebrities shared their experiences online and the tour was broadcast on live-streaming channels. This gave Chinese consumers a glimpse into how their favourite products were packaged and distributed, showcasing the quality of the products they planned to purchase.

This campaign helped participating retailers develop more effective and rewarding channels, as well as better understand what Chinese consumers needed and wanted.

It demonstrates how global retailers, including Australia, can drive awareness of their brands and products in China to expand their ecommerce businesses.

How can you compete?

Six tips to help you differentiate your retail business in China: 1. Content is key Before a sales event, create exclusive content to share with consumers that offers inspirational ideas the Chinese buyers generally know little about, such as a glimpse behind the scenes. Great content can generate consumer interest and initiate them to share via social media.

2. Be flexible in merchandising Closely monitor your sales figures and inventory during sales periods; be flexible to make changes to lists accordingly; check top-selling products and enhance their promotion in various channels to maximise sales. Also bundle long-tail products with top-selling products to stimulate sales.

3. Good planning and management of inventory During sales events, it’s easy to run out of stock of top-selling products. Make sales predictions at least eight weeks in advance and find an optimum shipping and logistics route. Setting up warehouses in free-trading areas such as Hong Kong is also a popular option.

You need to consider different avenues to reach consumers, stand out and take your ecommerce business to the next level 切记通过多元化渠道争取顾 客，从众多竞争者中脱颖而 出，带领电商业务更上层楼。

去年，中国消费者仍然沉浸于全民式的网 上购物狂潮，购物车里充满了来自世界各 地的商品。

中国消费者对海外产品日渐青睐，这一繁 荣的市场无疑为澳大利亚的零售商带来了 巨大的商机，但同时也引发了一场日益激 烈的价格战。

尽管许多人认为跨境电子商务行业目 前面临过多的管制，但是随着亚马逊 （Amazon）于10月份宣布为中国消费者 定制“金牌服务”，以及阿里巴巴拓展天猫 全球的市场份额，该行业正如日之升。

富足的中国消费者正在经历消费升级的过 程。日益上涨的销售量和海外购物的普及 正是这一过程的有力佐证。 市场分量不断拓展，并且越来越多的澳大 利亚品牌将有机会在中国找准市场定位， 这些无疑是利好消息。但值得注意的是， 这也意味着竞争将空前激烈，零售商将不 得不寻找新的途径来突显品牌特色，吸引 顾客。

中国最大的线上购物节当属去年的双十 一，当天的总销售额达到了2540亿元人民币 （500亿澳元），创下了历史最高记录。

4. Variety of marketing channels Maintaining traffic is becoming more expensive, so it’s important to adapt your business model to other suitable and emerging marketing channels. Unlike marketplaces where all brands and retailers compete on the same platform with the same traffic, your ecommerce site or WeChat store will be less affected by having more flexibility in traffic choice.

It also encourages more loyal and engaged customers to come back regularly.

5. Building loyalty Due to the time a sales event lasts, inviting existing customers back for repeat purchasing is more effective than competing for new traffic. However, this requires that retailers improve shopping experiences, provide useful content regularly, invest in branding to retain customers and offer incentives to encourage repeat shopping.

6. Provide superior customer service Although creative marketing campaigns can help retailers and brands stand out, customer service and product quality are the major concerns of most shoppers after sales. Superior customer service is where you can differentiate your business.

If your business is thinking of expanding its footprint in China to capitalise on the country’s booming cross-border online shopping market, then you need to consider different avenues to reach consumers, stand out and take your ecommerce business to the next level.

WWW.ACBR.COM.AU

双十一活动由阿里巴巴集团首创。根据阿 里巴巴的记录显示，双十一活动于午夜正 式开始后，交易额在 52秒内就已冲破10亿 人民币，并在仅仅3分钟内达到100亿人民币 （20亿澳元）。 许多商家提供的大额折扣仅在短时间内有 效，因而营造出一种促使消费者做出购买 决定的紧张氛围。 尽管部分商家提供的折扣十分优惠，但此 类商家占比较低。

销量最高的商品往往利润较低，有些甚至 是零利润。但这些商品的主要功能是刺激 顾客购买一些“长尾”产品（较为冷门的产 品）。 零售商都意识到，真正的风险在于顾客的 流失，在于其他提供更优惠价格的竞争对 手。

澳大利亚零售商应该从物流，品牌意识，以 及优质的客户服务方面入手，在中国市场 建立起自身优势。

这些久经检验的方法不仅有助于削减成 本，提高客户忠诚度，同时还能持续为中国 消费者提供高质的产品和服务。

麦肯锡公司（Mckinsey & Company）针 对中国消费者进行了一项调查研究，其最 新的研究结果表明，随着财务状况的改善， 中国消费者在更高质且更昂贵的商品上 花费增多，并且在服务行业的消费亦有所 增加。 为了更深入地了解各地环保产品的真实性 和可信赖度，几位中国网络红人于去年造 访了澳大利亚，新西兰，英国，德国以及日 本等国。

对于已在中国开展电商活动的零售企 业，如Pharmacy Online，Pharmacy 4 Less，Amcal，Pharmacy Direct，Kiwi Discovery，Feelunique，Matsuya Ginza，以及Bodyguard Apotheke，他们 均前往其零售商店及仓库进行实地考察。

观点

| OPINION

并且整个旅行过程都通过实时流媒体进行 直播，向中国消费者呈现了最受其欢迎的 产品是如何进行打包和配送的，同时亦展 示了消费者有意购买的商品的质量。

该活动不仅为零售企业提供了更加高效有 益的渠道，还帮助中国消费者对其所需产 品获得了更好的了解。这类活动向全球的 零售企业，包括澳大利亚的零售企业，展示 了如何提高品牌及产品在中国的知名度， 从而更好地拓展电商业务。 如何披荆斩棘，脱颖而出？

零售企业在中国独辟蹊径的六个诀窍： 1. 内容至关重要

在促销活动开始前，向消费者分享独家内 容，在中国买家知之甚少的领域提供引人 注目的信息，如一窥幕后神秘等。上乘的内 容不仅能激发消费者的购买欲，还能促使 他们在社交媒体上广泛分享。 2. 制定灵活的销售计划

在促销活动期间密切监控销售及库存数 据，并据此灵活调整销售清单；对于销量最 高的产品，应加强各种渠道上的宣传力度， 以实现销量最大化。同时将长尾商品与高 销量产品打包销售，从而刺激销量。 3. 做好存货规划和管理

在促销活动期间，高销量产品往往容易脱 销。因此商家有必要提前至少八周对销量 进行预测，并制定最优的物流运输路线。此 外，在香港等自由贸易区设立仓库亦是上 佳选择。 4. 营销渠道多样化

如今保持流量的代价愈发高昂，因此重塑 企业模式，适应新兴的营销渠道尤为重要。 在传统市场中，所有品牌和零售商在同一 平台竞争，面对相同的顾客流量，但电商网 站以及微信商店与传统市场截然不同，商 户在流量选择上更为灵活，因此受到的影 响更微小。同时，这也促使更多忠诚度高的 顾客定期光顾。 5. 建立忠诚度

由于促销活动的短时效性，诱导现有顾客 多次购买往往比吸引新的客户流量更为有 效。但这也并非易如反掌，零售商需要持续 改善购物体验，定期提供实用信息，并且投 资品牌打造，从而留住顾客，提供激励措 施，诱导重复购买。 6. 提供优质的客户服务

创意新颖的营销活动固然有助于零售商和 品牌崭露头角，但在销售结束之后，大多数 购买者最为关心的则是客户服务和产品质 量。因此，优质的客户服务亦是企业脱颖而 出的重要依托。

这些经历通过线上渠道分享给普通公众，

若您有意拓展企业版图，在繁荣的中国跨 境线上购物市场中占有一席之地，切记通 过多元化渠道争取顾客，从众多竞争者中 脱颖而出，带领电商业务更上层楼。

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PICTURE STORY | 图画故事 1

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Kerry Sanderson, Governor of Western Australia 西澳州督凯利·桑德森（Kerry Sanderson）

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AUSTRALIA CHINA BUSINESS REVIEW | 澳中商讯

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图画故事

| PICTURE STORY

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Mark McGowan, Premier of Western Australia 西澳州长马克·麦高文（Mark McGowan） 1 EVENT Senior officials from the WA government and the Consulate General of People’s Republic of China in Perth attended the grand event.

45th anniversary of diplomatic relations between Australia and China gala dinner

共襄盛举 西澳大利亚州政府与中华人民共和国驻 珀斯总领事馆共同庆贺中澳建交45周年。 2 DELICACIES Guests at the reception enjoyed the dainties prepared by the Consulate General of People’s Republic of China in Perth.

驻珀斯总领馆举行中澳建 交45周年招待会

美味佳肴 金樽清酒，玉盘珍羞，宾客齐享，共贺盛事。 3 WELL-ATTENDED Hundreds of guests enjoyed the event.

广受好评 招待晚宴圆满成功，满座宾客赞不绝口。 4 ATMOSPHERE Spirits were high.

气氛活跃 活动氛围庄重而不失生动，严肃又不乏 温馨。 5 ORATION Speech by Chinese Consul-General Lei Kezhong at the Reception Marking the 45th Anniversary of the establishment of diplomatic relations between Australia and China

勾画蓝图 雷克中总领事盛赞中澳建交45年丰硕成 果。回首过去，深孚众望，展望未来，前程万里。 6 GATHERING The business and the community sectors were well represented.

济济一堂 各界人士齐聚一堂，宾主酬酢，杯觥交杂。 Photos: Te Li

照片来源：李特

WWW.ACBR.COM.AU

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N O S T E K C !

TI W O N book E L A S chance to e

orat p Last r o C l Gold/ individua s& table ckets! ti

Join the pack - Celebrate the year of the Dog in style!

CHINESE NEW YEAR GALA DINNER Thursday March 1, 2018 Grand Ballroom, Crown Perth Grand Ballroom, Crown Perth

Join 500+ leading executives involved in Australia and Chinese trade and investment ‘Highlighting WA’s beautiful tourist destinations and educational opportunities’

BOOK NOW at www.acbc.com.au/events_1298-2 or contact eventswa@acbc.com.au or call (08) 61897844