Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Passing of power in China presents Opportunity for NZ

Monday 19 November 2012

News Release

Passing of power to the next generation in China presents
an opportunity for New Zealand businesses

Historic sweeping changes at the helm of China’s ruling communist party signals the beginning of a new era for the Chinese people and a once in a decade opportunity for New Zealand to consolidate its relationship with the emerging economic powerhouse.

Last week, Mr Xi Jinping was confirmed as the man to lead China after being elected as the General Secretary of the Communist Party of China (CPC) and the Chinese Military.

PwC Partner and China sector spokesperson Colum Rice says, “The change in leadership happens only once every ten years, so the world is witnessing an historic moment. And just how Mr Xi and his new team cope with the enormous responsibility of leading China for the next decade will be pivotal, not only for the Chinese people but New Zealand’s economic future also.”

Mr Xi’s father and predecessor, Mr Xi Zhongxun, was one of the first leaders to execute the ‘Open China Policy’ which saw China surge ahead and become the world’s second largest economy, overtaking Japan in 2010.

PwC Partner and Food and Agriculture sector spokesperson Craig Armitage says, “The success by previous leaders of the CPC means the pressure is on the new leaders to keep the economy growing at a similar rate. Yet, that isn’t going to be easy with growth already slowing from 10% a year to around 7 percent, which is the lowest rate since the start of the Global Financial Crisis.”

In his first speech since being elected, Mr Xi’s set out to allay any fears China’s economic growth is a thing of the past. He covered three key areas in his speech, all of which Mr Rice and Mr Armitage believe will be positive in advancing trade between New Zealand and China.

Those included:
•Improving Chinese People’s wellbeing.
•Advancing the ‘Open China Policy’ and productivity.
•Eliminating the perception of corruption and bureaucracy within the Communist Party of China

Mr Armitage adds says, “The three areas mentioned by Mr Xi are all relevant to New Zealand. For example, the focus on improving the Chinese People’s wellbeing – this means greater demand for quality food and products, both areas where New Zealand’s expertise is strong and where there is an opportunity for our country. New Zealand has an important role to play in both food security and food safety in China.”


About PwC
PwC helps organisations and individuals create the value they’re looking for. We’re a network of firms in 158 countries with more than 180,000 people who are committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out more by visiting us at


© Scoop Media

Business Headlines | Sci-Tech Headlines


Trade: NZ Trade Deficit Widens To A Record In September

Oct. 27 (BusinessDesk) - New Zealand's monthly trade deficit widened to a record in September as meat exports dropped to their lowest level in more than three years. More>>


Animal Welfare: Cruel Practices Condemned By DairyNZ Chief

DairyNZ chief executive Tim Mackle says cruel and illegal practices are not in any way condoned or accepted by the industry as part of dairy farming.

Tim says the video released today by Farmwatch shows some footage of transport companies and their workers, as well as some unacceptable behaviour by farmers of dragging calves. More>>


Postnatal Depression: 'The Thief That Steals Motherhood' - Alison McCulloch

Post-natal depression is a sly and cruel illness, described by one expert as ‘the thief that steals motherhood’, it creeps up on its victims, hiding behind the stress and exhaustion of being a new parent, catching many women unaware and unprepared. More>>


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


International Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news