Manufacturers to increase relevance in China’s supply chain

The Australian manufacturing industry should turn its focus to its role in supporting Chinese investment and how it can become a pivotal part of China’s supply chain ahead of the outcome of the Free Trade Agreement with China to be signed this afternoon.

“Reduction of tariffs set to be around five percent or less, with little in the way non-tariff barriers under the China FTA agreement, will not in its own right have a significant impact on the current Australian manufacturing trend.

“The industry should instead focus on how we develop relationships with China and capitalise on such relationships to benefit most from the anticipated FTA initiatives.

“We must understand how we can play a role in supporting Chinese investment within Australia and become a relevant part of its supply chain,” said Mark Phillips, National Head of Manufacturing, Grant Thornton Australia.

-ends-

For more information, please contact:

Helina Lilley
National Public Relations Manager
T  +61 2 8297 2421
M  0437 725 520
E helina.lilley@au.gt.com

About Grant Thornton
Grant Thornton Australia has more than 1,300 people working in offices in Adelaide, Brisbane, Cairns, Melbourne, Perth and Sydney. We are focussed on meeting the needs of dynamic, middle market clients and combine service breadth, depth of expertise and industry insight with an approachable “client first” mindset and a broad commercial perspective.

Grant Thornton is one of the world's leading organisations of independent assurance, tax and advisory firms. More than 35,000 Grant Thornton people, across over 100 countries, are focused on making a difference to clients, colleagues and the communities in which we live and work.

A firm recognised locally and globally:

• 2014 Best managed international firm: MPF Awards For Management Excellence (Grant Thornton International)
• 2013 Advisory Team of the Year: Thomson Reuters (Grant Thornton Australia)
• 2013 Global Firm of the Year: British Accountancy Awards (Grant Thornton UK)
• 2013 Network of the Year: International Accounting Bulletin (Grant Thornton International)