After seven years living and working in Shenzhen, Greg Smith has witnessed the evolution of China-Australia relations from the ground up, through periods of uncertainty, adjustment, and now, renewed momentum.
Looking back on 2025, the Chair of AustCham South China describes it as "the year engagement truly returned, in a meaningful and structured way." That renewed engagement, he says, is now translating into tangible opportunities for businesses across Guangdong and the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), at a time when diplomacy, trade, and regional integration are once again moving in alignment.
By early November 2025, annual bilateral trade between China and Australia had exceeded AUD 300 billion, underscoring the scale and resilience of one of the Asia-Pacific's most significant economic relationships. China remains Australia's largest trading partner, while Australia ranks among China's top ten trading partners. Beyond goods, China has also become Australia's largest market for services exports, including tourism and education.
When diplomacy speaks, business listens
High-level political engagement played a decisive role in restoring momentum throughout 2025. In July, Australian Prime Minister Anthony Albanese paid an official visit to China, reinforcing bilateral communication and signaling a shared commitment to stabilizing and advancing the relationship. That momentum continued on 27 October, when Chinese Premier Li Qiang met Prime Minister Albanese in Kuala Lumpur on the sidelines of regional meetings, further consolidating high-level contact between the two governments.
"These interfaces really mattered," Smith said. "They showed a genuine willingness on both sides to sit down, talk in depth, and see the relationship as much more than a series of transactions."
Crucially, Smith noted, political engagement consistently translated into business momentum. "In every case, there's a large delegation of business people who follow ministers or prime ministers," he said. "They're always engaged in conversations."
Throughout the year, AustCham South China maintained close dialogue with ambassadors, ministers, and visiting business delegations, reinforcing its role as a bridge between Australian companies and the Guangdong market. That renewed confidence was reflected in the chamber's growth. AustCham South China's membership expanded from 42 companies in 2022 to 90 by 2025, with 23 new members joining in 2025 alone — a clear signal of improving sentiment and long-term commitment.
Seven years in Shenzhen: seeing the GBA up close
For Smith, few places better illustrate China's economic trajectory than the Greater Bay Area. The Greater Bay Area is probably the most exciting area to be located in globally," he said, a view shaped by living in Shenzhen for seven years and witnessing the full span of China's 14th Five-Year Plan from within one of its showcase cities.
"I've been fortunate to live here throughout that period," Smith reflected. "Seeing how Shenzhen has embraced low-altitude aviation, sustainability, high-end manufacturing, and expanded its global reach has been remarkable."
Infrastructure, he noted, has been one of the most visible drivers of change.
"Driving from Shenzhen to Zhongshan used to be what we'd call in Australia a 'cut lunch and a water bag', a long trip," he said. "Now it's 30 minutes across the delta. It's fantastic."
This enhanced connectivity, linking Shenzhen with cities such as Nansha, Zhongshan, Zhuhai and Macao, is reshaping how businesses operate across the region. Bridges, high-speed rail, ports, and emerging low-altitude aviation networks are no longer abstract plans, but practical amplifiers of integration and efficiency.
Smith even shared a light-hearted moment from his first drive across the Shenzhen–Zhongshan Link. "The views were fantastic," he laughed. "I did take a wrong turn coming off the bridge and spent 20 minutes finding my way back, but the bridge itself was fantastic."
APEC is not one week,it's a year-long opportunity
Looking ahead, Smith sees the next major catalyst already taking shape. With Shenzhen set to host the APEC meetings in November 2026, he emphasized that APEC should not be viewed as a single event, but as a long process that brings global decision-makers into Shenzhen and the broader GBA.
"For nine or ten months leading up to the meetings, there will be a steady stream of preparatory gatherings," Smith explained. "That means at least one-third of the world's economic engine will be focused on what's happening here in the Greater Bay Area."
For Australian businesses, the progress made in 2025, marked by stabilized political relations, resumed high-level dialogue, and deeper regional integration, has fundamentally improved the operating environment.
That foundation, combined with the coming global spotlight of APEC, creates a unique window for engagement and growth.
"The opportunities ahead," Smith said, "are just enormous."
Reporter: Zeng Xiangxing
Video: Qin Shaolong
Poster: Lai Meiya
Editor: Ouyang Yan, Hu Nan, James Campion, Shen He
