By Peter Cai
It is becoming an increasingly important player in intra-regional trade and investment flows, which includes helping Chinese companies invest or trade with Indonesians, or Singaporeans businesses doing deals in Jakarta. "Over times, investors and analysts will have a better appreciation of ANZ’s supra-regional strategy as we grow our business in the Asia Pacific region," he says.
However, there is a shortage of supply of high quality steel that is needed for sectors such as manufacturing. “The Chinese steel industry needs to undergo significant restructuring,” he says. “China still needs high-grade steel for building high-speed railways and expressways.
China is expected to be a linchpin in this strategy as the world’s largest trading country and an increasingly important player in foreign investment. “As a regional bank, we have not only intimate knowledge of home markets like Australia and New Zealand but also countries around the region.
For example, Chinese companies are interested in fisheries and natural resources in the Pacific Island countries, tin mines in Indonesia, infrastructure projects in Laos and Cambodia,” he says. “Chinese companies are not only building infrastructure but also selling capital equipment like electricity generators.
Beijing is also gradually opening up the sector to private firms. “Financial sector reform is not going to happen overnight and I think it will take a long time for that to happen,” he says, “We can already see some changes such as private capital in banking sector, partial liberalisation of interest rate and internationalisation of the renminbi.
Read more here: Business Spectator