Major Australian enterprises and professional organizations have reaffirmed the importance of the Chinese market, with the service trade sector's role in bilateral economic ties and development lauded at a global industry fair in Beijing.

Australia was the guest country of honor at the 2025 China International Fair for Trade in Services, or CIFTIS, held in Beijing from Sept 10 to 14, with leading Australian brands and groups among the country's delegation to the event.

Dale Pinto, president and chairman of the board for professional accounting body CPA Australia, said CIFTIS is recognized as "China's leading exhibition in its sector and stands among the most significant and wide-ranging trade events globally".

This year's fair "fostered an open, collaborative and inclusive atmosphere, creating valuable business opportunities for both international exhibitors and visitors", Pinto said.

The event "continues to play a pivotal role in strengthening trade ties between China and Australia through targeted business matchmaking and promotional initiatives, deepening mutual understanding and forging stronger connections between our communities", he said.

CIFTIS offers CPA Australia "a powerful platform for direct engagement, fostering cooperation and advancing sustainable development, particularly within the accounting and financial services sectors", he added.

The event enables it to connect with local associations, businesses and professionals, cultivating valuable partnerships through a range of key activities, he said. "Our strategy is closely aligned with China's priorities, particularly in digital transformation, talent development and internationalization."

Major growth areas for Australia-China partnerships include significant expansion in service exports and opportunities in knowledge-intensive services, amid challenges such as macroeconomic fluctuations, geopolitical tensions and other global uncertainties, Pinto said.

On Sept 10, the overseas session of CIFTIS was unveiled in Melbourne, underscoring Australia's important role as the guest country of honor at this year's fair.

At the event, Xie Zhibin, deputy general manager of the Bank of China Sydney Branch, said: "Australia's services sector is not only one of the pillars of the national economy but also the fastest-growing segment.

"The sector covers finance, transportation, healthcare, education, tourism, professional services and information technology. It has a profound impact on local employment while offering broad opportunities for international cooperation," he said.

As a global partner of CIFTIS, the bank has served as a bridge to help enterprises from both countries explore new opportunities for cooperation, with the Sydney branch forming long-term and stable partnerships across key industries, Xie said.

Tourism ties

Nick Henderson, regional general manager for China at Tourism Australia, the government agency responsible for attracting international visitors to leisure and business events, told China Daily, "Through tourism, we have very strong people-to-people connections with China, and during the five days of the event, our focus has been very much on further reinforcing our deep tourism ties.

"In the past, we have found that having a tourism presence here has been extremely valuable to the work that we do in promoting Australia as a world-class destination for Chinese travelers," Henderson said, adding that the Chinese market "is of vital importance to the future of Australian tourism".

Tom King, managing director of Australian wine label Penfolds, which is under the Treasury Wine Estates group, said China "plays a very important role" in Treasury Wine Estates and Penfolds' global strategy, with the market "serving as an important growth engine but also as one of our key sourcing regions".

Penfolds' presence at CIFTIS underscores its "commitment and confidence in China as a long-term growth opportunity", with the fair serving as a "vital platform for promoting trade, investment and global cooperation", offering "a direct channel to connect with customers, partners, and other key industry and government stakeholders", he said.

"CIFTIS also enables us to gain valuable insights into China's evolving market trends and preferences."

This year's CIFTIS saw Treasury Wine Estates formalize a memorandum of understanding with Adelaide University, "which will create new opportunities for the younger generation of winemakers and wine sector professionals", King said, adding that the move involves a China-Australia winemaker immersion program.

"We remain excited by the continued opportunities for our business in China and look forward to future growth and development alongside our local partners," he said.

Contact the writers at xinxin@chinadaily.com.cn