Even as NZ Prime Minister Jacinda Ardern attended the China Business Summit in Auckland this week, thronged by executives from Fonterra to Alibaba, it’s evident to note that the Asian nation has become a big player for NZ’s economy.
Trade between the two nations has crossed $20 billion already with a target of $30 billion by 2020. Kiwi-Chinese have become one of the largest owners of properties across central business districts in New Zealand. China also contributes in a large way to the NZ tourism and education economy.
Here are a few facts about China-NZ relationship:
Total Trade : Export / Import
Education Trade between NZ and China
Investments between New Zealand and China including Hong Kong has been growing strongly in recent years, reaching NZ$ 6.2 billion in 2016.
Chinese investment exists across a diverse range of sectors. Some recent high profile Chinese investments in New Zealand include into Envirowaste and Waste Management, Fisher and Paykel Appliances, Synlait, and PGG Wrightson.
New Zealand’s overall services exports to China increased to NZ$2.9 billion in 2016
Large New Zealand investments in China include Fonterra and Fletcher Building’s Formica Group.