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 www.pwc.com.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>

ALSO:

Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>

ALSO:

Prices Up, Volume Down: March NZ House Sales Drop 10% As Loan Curbs Bite

New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. More>>

ALSO:

Scoop Business: Chorus To Appeal Copper Pricing Judgment

Chorus will appeal a High Court ruling upholding the Commerce Commission’s determination setting the regulated prices on the telecommunications network operator’s copper lines. More>>

ALSO:

Earlier:

Cars: Precautionary Recalls Announced For Toyota Vehicles

Toyota advises that a number of its New Zealand vehicles are affected by a series of precautionary global recalls. Toyota New Zealand General Manager Customer Services Spencer Morris stressed that the recalls are precautionary. More>>

ALSO:

'Gardening Club': Air Freight Cartel Nets Almost $12 Million In Penalties

The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 million ... More>>

ALSO:

Crown Accounts: Revenue Below Projections

Core Crown tax revenue has increased by $1.9 billion (or 5.0%) compared to the same time last year. However this was $1.1 billion less than expected and is reflected across most tax types, continuing the pattern of recent months. More>>

ALSO:

Efficiency: Businesses And Households To Save From New Energy Plans

Minister of Energy and Resources Simon Bridges today announced three energy efficiency initiatives to improve business productivity, save money and reduce carbon emissions. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news