
Australia PM Albanese kicks off China visit focused on trade
Albanese met with Shanghai Party Secretary Chen Jining on Sunday, the first in a series of high-level exchanges that will include meetings with Chinese President Xi Jinping, Premier Li Qiang and Chairman Zhao Leji of the National People's Congress.
Albanese is leading 'a very large business delegation' to China, which speaks to the importance of the economic relations between Australia and China, he told Chinese state broadcaster CGTN upon his arrival in Shanghai Saturday.
During a weeklong trip, Albanese is set to meet business, tourism and sport representatives in Shanghai and Chengdu including a CEO roundtable Tuesday in Beijing, his office said.
It is Albanese's second visit to China since his center-left Labor Party government was first elected in 2022. The party was reelected in May with an increased majority.
Albanese has managed to persuade Beijing to remove a series of official and unofficial trade barriers introduced under the previous conservative government that cost Australian exporters more than 20 billion Australian dollars ($13 billion) a year.
Beijing severed communications with the previous administration over issues including Australia's calls for an independent inquiry into the origins of and responses to COVID-19. But Albanese wants to reduce Australia's economic dependence on China, a free trade partner.
'My government has worked very hard to diversify trade … and to increase our relationships with other countries in the region, including India and Indonesia and the ASEAN countries,' Albanese said before his visit, referring to the 10-member Association of Southeast Asian Nations.
'But the relationship with China is an important one, as is our relationships when it comes to exports with the north Asian economies of South Korea and Japan,' he added.
Chinese state-run Xinhua News Agency, in an editorial Sunday, described China's relationship with Australia as 'steadily improving' and undergoing 'fresh momentum.'
'There are no fundamental conflicts of interest between China and Australia,' the editorial stated. 'By managing differences through mutual respect and focusing on shared interests, the two sides can achieve common prosperity and benefit.'
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Check out more newsletters It's the assembly plant, not the automaker's headquarters that matters The tax break applies to vehicles assembled in the U.S., no matter where the company making them is headquartered. All Tesla vehicles sold in the U.S. are assembled in this country. But so are all Acura brands, the luxury model of Japanese automaker Honda. Last year, 78% of Ford vehicles sold in the U.S. were assembled in this country, according to Cox Automotive. But customers wanting the tax break will need to pay attention to specific models. While the Ford Mustang is assembled in Michigan, the Mustang Mach-E is built in Mexico. Advertisement General Motors assembles all of its Cadillacs in the U.S. But just 44% of its Chevrolets sold last year were assembled in the U.S., and just 14% of Buicks, according to Cox Automotive. That's a lower U.S-assembled rate than Honda (60%), Toyota (52%) and Nissan (48%), which all are headquartered in Japan. 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