MNI BRIEF: Australian Firms In China See Improved Relations

Australian firms in China are expressing growing confidence in the outlook for bilateral trade and investment relations, with 80% of respondents to a flash survey noting an improvement since February, the Australian Chamber of Commerce in China said on Friday.

Two-thirds of foreign enterprises indicated no change in their 12-month investment plans and almost half of respondents expect to expand their investment in China over the next two to three years.

China is expected to intensify efforts to expand the yuan’s role in global commodity pricing and settlement during the 15th Five-Year Plan period, as part of a broader strategy to gain greater influence over key commodity prices, a government advisor recently told MNI. (See MNI INTERVIEW: China Policy Support For Yuan)