Australia’s economic brand in China is one mired in the past. Shutterstock.
If Australia wants to be more to China than a resource supplier, the federal government must put the nation’s innovation exports on the agenda with Beijing.
Julius Wei is co-founder and chief investment officer at Boman Group, an Australian fund manager facilitating cross-border innovation and capital flows between Australia and China.
When Prime Minister Anthony Albanese returned from his high-profile visit to Beijing earlier this year, the first by an Australian leader in seven years, the tone was hopeful. Trade blockages were thawing, diplomacy was back on track, and Australia’s place in the China conversation seemed more secure.
Yet, the substance of the trip felt all too familiar. Australia still showed itself primarily as a provider of hard commodities — especially iron ore — and of traditional agricultural exports like beef and wine. The Beijing roundtable was dominated by miners and steel executives; innovation barely registered in the optics.
Australia’s economic brand in China remains stuck in the past. We are viewed primarily as a resource supplier — a nation of paddocks and pits. But if we want to build a broader, more resilient relationship with China, that narrative must change. We must show that we are not just a quarry or a farm but a sophisticated, knowledge-driven economy capable of exporting innovation at scale.
There is growing demand in China for collaboration in advanced manufacturing, clean tech, medtech and artificial intelligence. But Australia isn’t top of mind in those sectors. Not because we lack capability, but because we’ve failed to promote it.
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