Latest news with #pre-COVID-19
Focus Malaysia
7 days ago
- Business
- Focus Malaysia
Glove exports drop again in May as inventory consolidation drags on
THE prospects of the rubber products sector remain bleak, in our view, due to the unfavourable operating environment caused by a longer-than-expected period of inventory consolidation. That said, competition remains intense in non-US markets due to the hostile pricing strategy adopted by Chinese manufacturers. 'We also expect the commissioning of new plants in Indonesia and Vietnam to pose a threat to Malaysia's rubber product sales to the US by as early as Nov 2025,' said RHB. According to the Department of Statistics Malaysia, the country's glove exports saw month-on-month (MoM) declines of 22% and 6% in April and May. This suggests that customer restocking activities remain sluggish as the industry experiences a longer-than-expected gestation period following the front-loading that occurred in quarter four 2024 (4Q24). Continued weakness of the USD against the MYR has also further eroded glovemakers' profitability, with the USD depreciating by 3% quarter-on-quarter (QoQ) and 5.4% year-to-date ( YTD)as of June. The pricing power of Malaysian glove manufacturers has diminished since the entry of Chinese manufacturers, based on our observation. We understand that cost pass-through is now more challenging than during the pre-COVID-19 period, as glovemakers are only able to pass on 50% of any cost increase to customers vs a full cost passthrough previously. With no signs of competition easing, we expect glovemakers' profitability to remain under pressure in the near future. Mandatory EPF contribution for foreign labour is set to kick off by October. We expect this to raise glovemakers' cost of production by 0.8-1% (USD0.15-0.20 per thousand pieces). Meanwhile, the expanded sales & service tax (SST) of 5% applicable to imported natural rubber latex and nitrile butadiene rubber (NBR) latex is expected to raise production costs by USD0.25-0.30 (1.3-1.5%). This confluence of factors come at a time when the industry is already grappling with intense competition and limited ability to pass through rising costs to customers. Sector valuation looks attractive, hovering at 0.9x P/B, at 1.2SD below its historical average of 1.2x. However, given the lack of near-term re-rating catalysts, we would not recommend investors to accumulate at this level. As the risk of earnings disappointment in the upcoming August reporting period is high, we think the share price could undergo another round of corrections. The last time the sector was traded at such levels was during 1Q23, where the industry's profit hit a trough level during a period of consolidation. Persistent challenges in cost pass-through, coupled with a rising operating cost environment and a weaker USD are expected to weigh on glovemakers' profitability moving forward. We think cost pass-through will remain challenging, as Malaysia's blended ASPs have hovered between USD19 and USD22 in 1H25, largely unchanged from 4Q24's level. Despite having a competitive edge over Chinese manufacturers – both before and after the announcement of the US reciprocal tariffs – Malaysian glovemakers have been unable to leverage this advantage to raise ASPs. In our view, several factors are at play: i) The pricing formula for gloves primarily comprises raw material prices and FX movements, which means that any price adjustment must be substantiated by those elements (tariff advantages over competitors are not factored in) and ii) customers remain highly price-sensitive, particularly as they continue to manage elevated inventory levels that have yet to be consumed. Natural latex prices last traded at USD1.40 per kg in June vs its average price of USD1.44 per kg in May (-3%). Moving forward, natural latex prices are expected to normalise, thanks to stable supply post the winter season in Thailand (a major latex producing country). Meanwhile, acrylonitrile prices eased 3% MoM in June, averaging at USD1.15 per kg from USD1.18 in May. Moving forward, nitrile prices are expected to ease further due to uneven demand from downstream industries as well as the easing of feedstock prices (ie propylene). The natural gas tariff also spiked 6% MoM in June, averaging at USD3.67 per mmBtu in conjunction with the surge in crude oil prices. Natural gas prices will remain elevated, in our view, primarily driven by the demand-supply mismatch, as supply remains tight. Given the intensifying competition expected in late 4Q25, we hold the view that investor sentiment in the glove industry will remain weak throughout 2H25. In addition, the persistent challenges in cost pass-through, coupled with a rising operating cost environment – due to factors such as the expanded SST and mandatory EPF contribution for foreign workers – and a weakening USD are expected to weigh on glovemakers' profitability moving forward.—July 16, 2025 Main image: The Star
Al Etihad
15-07-2025
- Business
- Al Etihad
UAE's non-oil economy remains on solid ground: MOMR
15 July 2025 22:49 VIENNA (WAM)The UAE's non-oil economy remains on solid ground, with the June PMI expanding slightly to stand at 53.5, following a solid level of 53.3 in May and 54 in April, signalling continued expansion, despite some deceleration in momentum, according to OPEC Monthly Oil Market Report (MOMR) for the monthly report said, the private sector continued to perform strongly, with the UAE's real estate and tourism sectors continuing to show strong momentum in 2025. In Dubai, year-to-date real estate transaction volumes through June rose 24%, y-o-y, with values up 38%, y-o-y, reflecting broad-based growth across all segments. In June alone, volumes and values increased by around 17%, Abu Dhabi, 2Q25 real-estate volumes rose 7%, y-o-y, while values surged 45% on an annual in Dubai also remained robust, with May 2025 arrivals up 6%, y-o-y, and year-to-date figures around 7% higher than the previous year. This level is about 21% above pre-COVID-19 levels, while hotel occupancy rose to 83%. In the meantime, the country is actively diversifying the economy and building international partnerships to support investment and economic diversification. The MOMR noted that important developments include new agreements on the launch of a UAE-US Framework on Advanced Technology Cooperation, underscoring a shared focus on innovation, investment, and the strategic transferral of knowledge. These efforts, among others, are part of broader national strategies to position the country as a global centre for innovation and sustainable economic growth.
The Advertiser
13-07-2025
- Business
- The Advertiser
Clouds of war shroud PM's sunny China tourism pitch
Rugby league might be his preferred sport, but the prime minister's diplomatic juggling skills were on show as he stood aside a Socceroos legend in Shanghai. Attempts to lure Chinese tourists to Australia and promote the two nations' people-to-people links were overshadowed by questions about Australia's participation in a potential future conflict with the Asian superpower. US defence official Elbridge Colby, who is leading a review into the AUKUS security pact, has been pushing allies such as Australia to clarify what roles they would play in a possible war. News of the suggestion made for an awkward proposition for Prime Minister Anthony Albanese on Sunday, the first full day of his six-day tour of China. As China's ambassador to Australia Xiao Qian watched on in stony silence, Mr Albanese played a straight bat to questions, reiterating Australia's commitment to the status quo in Taiwan while maintaining support for the US-Australia alliance. "It's important that we have a consistent position, which Australia has had for a long period of time," he told reporters at the headquarters of online booking giant "Our aim of investing in our capability, and as well, investing in our relationships, is about advancing peace and security in our region." Mr Albanese oversaw the signing of a memorandum of understanding between and Tourism Australia, and previewed an ad campaign to air in China starring local film star Yu Shi and Ruby the Roo, an animated kangaroo voiced by Rose Byrne. China's burgeoning middle class, armed with deep pockets and an appetite for travel, are key to Australia's tourism industry, spending $9.2 billion in the 12 months to March. While China is still Australia's second-largest visiting tourist market, numbers have yet to recover to pre-COVID-19 pandemic levels. The dramatic economic transformation China has undergone in recent decades was plain to see from Shanghai's historic Bund promenade, where Mr Albanese strolled with ex-Socceroo Kevin Muscat, who now manages Chinese Super League outfit Shanghai Port FC. Shanghai's rainy season clouds parted early for the pair on Sunday morning, making way for a suffocating tropical heat that beat down on their discussion of the impact of football in fostering the two countries' interpersonal connections. Looking across the Huangpu River, a forest of newly-built skyscrapers in the Pudong district - surely constructed with no small quantity of Australian iron ore - gleamed in the sunlight. "When I first came here twice in the 1990s, the area Pudong was very different indeed," Mr Albanese said in a meeting with local Chinese Communist Party official Chen Jining."There were farms where there is now a great metropolis."The development we can see across the river is symbolic of the extraordinary development that China has seen in recent decades, lifting literally hundreds of millions of people out of poverty and creating economic benefit both for the people of China, but also increased economic engagement with countries like Australia." Mr Albanese will continue to emphasise the two nations' business and sporting links during his six-day tour of China. A keen tennis player, the prime minister will make an announcement about extending an Australian Open wildcard tournament when he visits the southwest city of Chengdu. Sport built important people-to-people ties, as did business co-operation, Mr Albanese said. "One in four of Australian jobs is dependent on our exports and overwhelmingly, by far the largest destination for Australian exports is right here in China," he said. Rugby league might be his preferred sport, but the prime minister's diplomatic juggling skills were on show as he stood aside a Socceroos legend in Shanghai. Attempts to lure Chinese tourists to Australia and promote the two nations' people-to-people links were overshadowed by questions about Australia's participation in a potential future conflict with the Asian superpower. US defence official Elbridge Colby, who is leading a review into the AUKUS security pact, has been pushing allies such as Australia to clarify what roles they would play in a possible war. News of the suggestion made for an awkward proposition for Prime Minister Anthony Albanese on Sunday, the first full day of his six-day tour of China. As China's ambassador to Australia Xiao Qian watched on in stony silence, Mr Albanese played a straight bat to questions, reiterating Australia's commitment to the status quo in Taiwan while maintaining support for the US-Australia alliance. "It's important that we have a consistent position, which Australia has had for a long period of time," he told reporters at the headquarters of online booking giant "Our aim of investing in our capability, and as well, investing in our relationships, is about advancing peace and security in our region." Mr Albanese oversaw the signing of a memorandum of understanding between and Tourism Australia, and previewed an ad campaign to air in China starring local film star Yu Shi and Ruby the Roo, an animated kangaroo voiced by Rose Byrne. China's burgeoning middle class, armed with deep pockets and an appetite for travel, are key to Australia's tourism industry, spending $9.2 billion in the 12 months to March. While China is still Australia's second-largest visiting tourist market, numbers have yet to recover to pre-COVID-19 pandemic levels. The dramatic economic transformation China has undergone in recent decades was plain to see from Shanghai's historic Bund promenade, where Mr Albanese strolled with ex-Socceroo Kevin Muscat, who now manages Chinese Super League outfit Shanghai Port FC. Shanghai's rainy season clouds parted early for the pair on Sunday morning, making way for a suffocating tropical heat that beat down on their discussion of the impact of football in fostering the two countries' interpersonal connections. Looking across the Huangpu River, a forest of newly-built skyscrapers in the Pudong district - surely constructed with no small quantity of Australian iron ore - gleamed in the sunlight. "When I first came here twice in the 1990s, the area Pudong was very different indeed," Mr Albanese said in a meeting with local Chinese Communist Party official Chen Jining."There were farms where there is now a great metropolis."The development we can see across the river is symbolic of the extraordinary development that China has seen in recent decades, lifting literally hundreds of millions of people out of poverty and creating economic benefit both for the people of China, but also increased economic engagement with countries like Australia." Mr Albanese will continue to emphasise the two nations' business and sporting links during his six-day tour of China. A keen tennis player, the prime minister will make an announcement about extending an Australian Open wildcard tournament when he visits the southwest city of Chengdu. Sport built important people-to-people ties, as did business co-operation, Mr Albanese said. "One in four of Australian jobs is dependent on our exports and overwhelmingly, by far the largest destination for Australian exports is right here in China," he said. Rugby league might be his preferred sport, but the prime minister's diplomatic juggling skills were on show as he stood aside a Socceroos legend in Shanghai. Attempts to lure Chinese tourists to Australia and promote the two nations' people-to-people links were overshadowed by questions about Australia's participation in a potential future conflict with the Asian superpower. US defence official Elbridge Colby, who is leading a review into the AUKUS security pact, has been pushing allies such as Australia to clarify what roles they would play in a possible war. News of the suggestion made for an awkward proposition for Prime Minister Anthony Albanese on Sunday, the first full day of his six-day tour of China. As China's ambassador to Australia Xiao Qian watched on in stony silence, Mr Albanese played a straight bat to questions, reiterating Australia's commitment to the status quo in Taiwan while maintaining support for the US-Australia alliance. "It's important that we have a consistent position, which Australia has had for a long period of time," he told reporters at the headquarters of online booking giant "Our aim of investing in our capability, and as well, investing in our relationships, is about advancing peace and security in our region." Mr Albanese oversaw the signing of a memorandum of understanding between and Tourism Australia, and previewed an ad campaign to air in China starring local film star Yu Shi and Ruby the Roo, an animated kangaroo voiced by Rose Byrne. China's burgeoning middle class, armed with deep pockets and an appetite for travel, are key to Australia's tourism industry, spending $9.2 billion in the 12 months to March. While China is still Australia's second-largest visiting tourist market, numbers have yet to recover to pre-COVID-19 pandemic levels. The dramatic economic transformation China has undergone in recent decades was plain to see from Shanghai's historic Bund promenade, where Mr Albanese strolled with ex-Socceroo Kevin Muscat, who now manages Chinese Super League outfit Shanghai Port FC. Shanghai's rainy season clouds parted early for the pair on Sunday morning, making way for a suffocating tropical heat that beat down on their discussion of the impact of football in fostering the two countries' interpersonal connections. Looking across the Huangpu River, a forest of newly-built skyscrapers in the Pudong district - surely constructed with no small quantity of Australian iron ore - gleamed in the sunlight. "When I first came here twice in the 1990s, the area Pudong was very different indeed," Mr Albanese said in a meeting with local Chinese Communist Party official Chen Jining."There were farms where there is now a great metropolis."The development we can see across the river is symbolic of the extraordinary development that China has seen in recent decades, lifting literally hundreds of millions of people out of poverty and creating economic benefit both for the people of China, but also increased economic engagement with countries like Australia." Mr Albanese will continue to emphasise the two nations' business and sporting links during his six-day tour of China. A keen tennis player, the prime minister will make an announcement about extending an Australian Open wildcard tournament when he visits the southwest city of Chengdu. Sport built important people-to-people ties, as did business co-operation, Mr Albanese said. "One in four of Australian jobs is dependent on our exports and overwhelmingly, by far the largest destination for Australian exports is right here in China," he said. Rugby league might be his preferred sport, but the prime minister's diplomatic juggling skills were on show as he stood aside a Socceroos legend in Shanghai. Attempts to lure Chinese tourists to Australia and promote the two nations' people-to-people links were overshadowed by questions about Australia's participation in a potential future conflict with the Asian superpower. US defence official Elbridge Colby, who is leading a review into the AUKUS security pact, has been pushing allies such as Australia to clarify what roles they would play in a possible war. News of the suggestion made for an awkward proposition for Prime Minister Anthony Albanese on Sunday, the first full day of his six-day tour of China. As China's ambassador to Australia Xiao Qian watched on in stony silence, Mr Albanese played a straight bat to questions, reiterating Australia's commitment to the status quo in Taiwan while maintaining support for the US-Australia alliance. "It's important that we have a consistent position, which Australia has had for a long period of time," he told reporters at the headquarters of online booking giant "Our aim of investing in our capability, and as well, investing in our relationships, is about advancing peace and security in our region." Mr Albanese oversaw the signing of a memorandum of understanding between and Tourism Australia, and previewed an ad campaign to air in China starring local film star Yu Shi and Ruby the Roo, an animated kangaroo voiced by Rose Byrne. China's burgeoning middle class, armed with deep pockets and an appetite for travel, are key to Australia's tourism industry, spending $9.2 billion in the 12 months to March. While China is still Australia's second-largest visiting tourist market, numbers have yet to recover to pre-COVID-19 pandemic levels. The dramatic economic transformation China has undergone in recent decades was plain to see from Shanghai's historic Bund promenade, where Mr Albanese strolled with ex-Socceroo Kevin Muscat, who now manages Chinese Super League outfit Shanghai Port FC. Shanghai's rainy season clouds parted early for the pair on Sunday morning, making way for a suffocating tropical heat that beat down on their discussion of the impact of football in fostering the two countries' interpersonal connections. Looking across the Huangpu River, a forest of newly-built skyscrapers in the Pudong district - surely constructed with no small quantity of Australian iron ore - gleamed in the sunlight. "When I first came here twice in the 1990s, the area Pudong was very different indeed," Mr Albanese said in a meeting with local Chinese Communist Party official Chen Jining."There were farms where there is now a great metropolis."The development we can see across the river is symbolic of the extraordinary development that China has seen in recent decades, lifting literally hundreds of millions of people out of poverty and creating economic benefit both for the people of China, but also increased economic engagement with countries like Australia." Mr Albanese will continue to emphasise the two nations' business and sporting links during his six-day tour of China. A keen tennis player, the prime minister will make an announcement about extending an Australian Open wildcard tournament when he visits the southwest city of Chengdu. Sport built important people-to-people ties, as did business co-operation, Mr Albanese said. "One in four of Australian jobs is dependent on our exports and overwhelmingly, by far the largest destination for Australian exports is right here in China," he said.
The Advertiser
12-07-2025
- Business
- The Advertiser
Footballers and movie stars: PM's Shanghai tourism push
Enticing Chinese travellers to Australia will be the priority of Prime Minister Anthony Albanese's tour of China. After touching down late on Saturday with fiancee Jodie Haydon, Mr Albanese's six-day visit to the Middle Kingdom begins in the bustling financial hub of Shanghai, where he will promote Chinese tourism to Australia. China is the second-largest visiting tourist market to Australia, trailing only New Zealand. In the 12 months to March, 860,000 trips were made to Australia by visitors from mainland China, contributing $9.2 billion to the domestic economy, or about a quarter of the total short-term international visitor spend. While travel numbers have bounced back since Beijing put Australia back on its approved destination list for organised tour groups, trips still significantly lag pre-COVID-19 pandemic figures. More than 1.4 million Chinese travellers visited Australia in 2019. Recovering that shortfall is crucial for businesses that are reliant on tourist spending and have suffered from lower international travel and higher input costs in recent Sunday, the prime minister will oversee the signing of a memorandum of understanding between online travel giant - which owns popular bookings sites such as Skyscanner - and Tourism Australia. He will also unveil a new tourism ad campaign to air in China, hoped to further promote Australia as a travel destination. "Not only is Australia's beef, barley, red wine and lobster the best in the world - we're the best place in the world to come for a holiday," Mr Albanese said."Expanding our tourism relationship with China will mean more jobs for Australians and a boost to Australian businesses."The ad will feature Chinese cinema heartthrob Yu Shi - whose acting credits include appearances in the wildly popular fantasy trilogy Creation of the Gods - and Ruby the Roo, an animated kangaroo voiced by Australian actor Rose joint Australian-Chinese billing underscores Mr Albanese's mission to boost cultural and interpersonal links, as well as economic ones. On Sunday morning, Mr Albanese will meet with former Socceroo Kevin Muscat, who now coaches professional football outfit Shanghai Port FC - the side he led to a third Chinese Super League title in 2024. The former midfield hatchet man has brought over a host of Australian coaching staff, including fellow ex-Socceroo Ross Aloisi, in a sign of the deepening collaboration between Australia and China on the sporting field. Enticing Chinese travellers to Australia will be the priority of Prime Minister Anthony Albanese's tour of China. After touching down late on Saturday with fiancee Jodie Haydon, Mr Albanese's six-day visit to the Middle Kingdom begins in the bustling financial hub of Shanghai, where he will promote Chinese tourism to Australia. China is the second-largest visiting tourist market to Australia, trailing only New Zealand. In the 12 months to March, 860,000 trips were made to Australia by visitors from mainland China, contributing $9.2 billion to the domestic economy, or about a quarter of the total short-term international visitor spend. While travel numbers have bounced back since Beijing put Australia back on its approved destination list for organised tour groups, trips still significantly lag pre-COVID-19 pandemic figures. More than 1.4 million Chinese travellers visited Australia in 2019. Recovering that shortfall is crucial for businesses that are reliant on tourist spending and have suffered from lower international travel and higher input costs in recent Sunday, the prime minister will oversee the signing of a memorandum of understanding between online travel giant - which owns popular bookings sites such as Skyscanner - and Tourism Australia. He will also unveil a new tourism ad campaign to air in China, hoped to further promote Australia as a travel destination. "Not only is Australia's beef, barley, red wine and lobster the best in the world - we're the best place in the world to come for a holiday," Mr Albanese said."Expanding our tourism relationship with China will mean more jobs for Australians and a boost to Australian businesses."The ad will feature Chinese cinema heartthrob Yu Shi - whose acting credits include appearances in the wildly popular fantasy trilogy Creation of the Gods - and Ruby the Roo, an animated kangaroo voiced by Australian actor Rose joint Australian-Chinese billing underscores Mr Albanese's mission to boost cultural and interpersonal links, as well as economic ones. On Sunday morning, Mr Albanese will meet with former Socceroo Kevin Muscat, who now coaches professional football outfit Shanghai Port FC - the side he led to a third Chinese Super League title in 2024. The former midfield hatchet man has brought over a host of Australian coaching staff, including fellow ex-Socceroo Ross Aloisi, in a sign of the deepening collaboration between Australia and China on the sporting field. Enticing Chinese travellers to Australia will be the priority of Prime Minister Anthony Albanese's tour of China. After touching down late on Saturday with fiancee Jodie Haydon, Mr Albanese's six-day visit to the Middle Kingdom begins in the bustling financial hub of Shanghai, where he will promote Chinese tourism to Australia. China is the second-largest visiting tourist market to Australia, trailing only New Zealand. In the 12 months to March, 860,000 trips were made to Australia by visitors from mainland China, contributing $9.2 billion to the domestic economy, or about a quarter of the total short-term international visitor spend. While travel numbers have bounced back since Beijing put Australia back on its approved destination list for organised tour groups, trips still significantly lag pre-COVID-19 pandemic figures. More than 1.4 million Chinese travellers visited Australia in 2019. Recovering that shortfall is crucial for businesses that are reliant on tourist spending and have suffered from lower international travel and higher input costs in recent Sunday, the prime minister will oversee the signing of a memorandum of understanding between online travel giant - which owns popular bookings sites such as Skyscanner - and Tourism Australia. He will also unveil a new tourism ad campaign to air in China, hoped to further promote Australia as a travel destination. "Not only is Australia's beef, barley, red wine and lobster the best in the world - we're the best place in the world to come for a holiday," Mr Albanese said."Expanding our tourism relationship with China will mean more jobs for Australians and a boost to Australian businesses."The ad will feature Chinese cinema heartthrob Yu Shi - whose acting credits include appearances in the wildly popular fantasy trilogy Creation of the Gods - and Ruby the Roo, an animated kangaroo voiced by Australian actor Rose joint Australian-Chinese billing underscores Mr Albanese's mission to boost cultural and interpersonal links, as well as economic ones. On Sunday morning, Mr Albanese will meet with former Socceroo Kevin Muscat, who now coaches professional football outfit Shanghai Port FC - the side he led to a third Chinese Super League title in 2024. The former midfield hatchet man has brought over a host of Australian coaching staff, including fellow ex-Socceroo Ross Aloisi, in a sign of the deepening collaboration between Australia and China on the sporting field. Enticing Chinese travellers to Australia will be the priority of Prime Minister Anthony Albanese's tour of China. After touching down late on Saturday with fiancee Jodie Haydon, Mr Albanese's six-day visit to the Middle Kingdom begins in the bustling financial hub of Shanghai, where he will promote Chinese tourism to Australia. China is the second-largest visiting tourist market to Australia, trailing only New Zealand. In the 12 months to March, 860,000 trips were made to Australia by visitors from mainland China, contributing $9.2 billion to the domestic economy, or about a quarter of the total short-term international visitor spend. While travel numbers have bounced back since Beijing put Australia back on its approved destination list for organised tour groups, trips still significantly lag pre-COVID-19 pandemic figures. More than 1.4 million Chinese travellers visited Australia in 2019. Recovering that shortfall is crucial for businesses that are reliant on tourist spending and have suffered from lower international travel and higher input costs in recent Sunday, the prime minister will oversee the signing of a memorandum of understanding between online travel giant - which owns popular bookings sites such as Skyscanner - and Tourism Australia. He will also unveil a new tourism ad campaign to air in China, hoped to further promote Australia as a travel destination. "Not only is Australia's beef, barley, red wine and lobster the best in the world - we're the best place in the world to come for a holiday," Mr Albanese said."Expanding our tourism relationship with China will mean more jobs for Australians and a boost to Australian businesses."The ad will feature Chinese cinema heartthrob Yu Shi - whose acting credits include appearances in the wildly popular fantasy trilogy Creation of the Gods - and Ruby the Roo, an animated kangaroo voiced by Australian actor Rose joint Australian-Chinese billing underscores Mr Albanese's mission to boost cultural and interpersonal links, as well as economic ones. On Sunday morning, Mr Albanese will meet with former Socceroo Kevin Muscat, who now coaches professional football outfit Shanghai Port FC - the side he led to a third Chinese Super League title in 2024. The former midfield hatchet man has brought over a host of Australian coaching staff, including fellow ex-Socceroo Ross Aloisi, in a sign of the deepening collaboration between Australia and China on the sporting field.
Perth Now
12-07-2025
- Business
- Perth Now
Footballers and movie stars: PM's Shanghai tourism push
Enticing Chinese travellers to Australia will be the priority of Prime Minister Anthony Albanese's tour of China. After touching down late on Saturday with fiancee Jodie Haydon, Mr Albanese's six-day visit to the Middle Kingdom begins in the bustling financial hub of Shanghai, where he will promote Chinese tourism to Australia. China is the second-largest visiting tourist market to Australia, trailing only New Zealand. In the 12 months to March, 860,000 trips were made to Australia by visitors from mainland China, contributing $9.2 billion to the domestic economy, or about a quarter of the total short-term international visitor spend. While travel numbers have bounced back since Beijing put Australia back on its approved destination list for organised tour groups, trips still significantly lag pre-COVID-19 pandemic figures. More than 1.4 million Chinese travellers visited Australia in 2019. Recovering that shortfall is crucial for businesses that are reliant on tourist spending and have suffered from lower international travel and higher input costs in recent Sunday, the prime minister will oversee the signing of a memorandum of understanding between online travel giant - which owns popular bookings sites such as Skyscanner - and Tourism Australia. He will also unveil a new tourism ad campaign to air in China, hoped to further promote Australia as a travel destination. "Not only is Australia's beef, barley, red wine and lobster the best in the world - we're the best place in the world to come for a holiday," Mr Albanese said."Expanding our tourism relationship with China will mean more jobs for Australians and a boost to Australian businesses."The ad will feature Chinese cinema heartthrob Yu Shi - whose acting credits include appearances in the wildly popular fantasy trilogy Creation of the Gods - and Ruby the Roo, an animated kangaroo voiced by Australian actor Rose joint Australian-Chinese billing underscores Mr Albanese's mission to boost cultural and interpersonal links, as well as economic ones. On Sunday morning, Mr Albanese will meet with former Socceroo Kevin Muscat, who now coaches professional football outfit Shanghai Port FC - the side he led to a third Chinese Super League title in 2024. The former midfield hatchet man has brought over a host of Australian coaching staff, including fellow ex-Socceroo Ross Aloisi, in a sign of the deepening collaboration between Australia and China on the sporting field.
