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Radio National Interview: Financial ties with China

When you think of China and Australia’s relationship, you automatically think of mining.....China’s demand for our natural resources has indeed spurred on that industry of late. But there’s another sector that is also becoming a dominant player in the relationship between the two countries. The financial services. A year ago, Australia became the third country only to directly convert our currency with the Chinese yuan. Negotiations are underway to make Sydney an official yuan trading hub.....again the only one outside of Hong Kong and to lower restrictions on Chinese investment into Australia.