CPA Australia keen on enhancing bilateral biz ties

Reaffirming a long-term commitment to the Chinese market, CPA Australia, a global professional accounting association, said it hopes to strengthen ties between China and Australia in services trade, with a special focus on the professional services sector.

CPA Australia made the comments during the 2025 China International Fair for Trade in Services, where Australia serves as guest country of honor.

It is the second consecutive year that CPA Australia has participated in the event, after last year's attendance helped to facilitate its market expansion in Qingdao, Shandong province. The organization has started executive training services to local enterprises.

This year, CPA Australia has signed MoUs with more local entities, including the China Association for Public Companies and the Sydney branch of Bank of China.

Dale Pinto, president and chair of the board of CPA Australia, said trade in services is a key driver of Australia's economy, and China, as one of Australia's largest trading partners, presents significant market potential.

"We look forward to leveraging CIFTIS to foster closer cooperation between China and Australia, supporting the shared economic prosperity and growth of both countries," Pinto said.

"As China continues to open its market and more Chinese companies look to overseas opportunities, the demand for professional services is expected to rise considerably in the years ahead. We see significant opportunities to help equip Chinese professionals with internationally recognized skills."

As a direct outcome of the China-Australia Free Trade Agreement, trade has flowed freely, delivering benefits to both countries, as well as to people and businesses on both sides. Pinto said Australia will continue to be a strong supporter of free and fair trade.

China remains Australia's largest two-way trading partner, accounting for 26 percent of Australia's global goods and services trade in the 2023-24 period. During this timeframe, Australia's goods and services exports to China reached A$212.7 billion ($140.5 billion).Notably, its services exports to China grew by 42.3 percent over the same period, driven by growth in personal travel and the return of international students to Australia, according to Australia's Department of Foreign Affairs and Trade.

CPA Australia said both countries boast substantial room for cooperation in knowledge-intensive service sectors, including accounting, finance, law and consulting. Going forward, the two countries can further advance the connectivity of professional services by jointly nurturing international talent and enhancing the mutual recognition of professional qualifications.

EY, a global professional service firm, has participated in CIFTIS for six straight years. The company said CIFTIS is a key platform to boost opening-up, global cooperation and innovation.

"Having participated in CIFTIS several times, we have a strong impression that the fair has been drawing a growing number of participants, and its role as a bridge for connectivity has been steadily strengthening," said Jane Yang, managing partner of EY Beijing office.

"We aim to continue leveraging this platform to deepen collaboration with partners and further drive the high-quality development of the services sector."

zhuwenqian@chinadaily.com.cn