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Speech by Ambassador Zhang Junsai at the Reception Celebrating COSCO’S 30th Anniversary of its China-Australia Container Liner Service

On October 16th, H.E. Mr. Zhang Junsai attended COSCO’s reception celebrating the 30th anniversary of China-Australia container liner service and commemorating the maiden voyage of motor vessel “Ping Xiang Cheng” to Australia. Among more than 200 guests at the celebration, there were H.E. Excellency Mr. Bob Hawke, former Prime Minister of Australia, Mr Andrew Wilson, Acting Deputy Secretary of Department of Infrastructure, Transport, Regional Development and Local Government, Hon. Mr. Joe Tripodi, Minister for Ports and Waterways of New South Wales Government, and Mr. Wei Jiafu, President and CEO of COSCO Group from Beijing.

In his speech, Ambassador Zhang regarded COSCO’s footsteps of its 30 years’ development in Australia as “ an epitome of China’s development since the reform and opening up”, attributing COSCO’S achievements to the expected result of opening up policy. And he also cited COSCO’s success in Australia as “a vivid reflection of the sound relationship between China and Australia”. His views won big applaud from among the participants at the gathering.

The Ambassador expressed his pride over China’s tremendous achievements in its economic and social development during the past 30 years. “China has been maintaining an average annual economic growth rate of 9.7%. China is now the 4th largest economy in the world,moving from a low income economy to a middle income one. The unprecedented social transformation and ever expanding opening-up have not only generated great vigor into China’s development, but also injected new vitality into the global economy.”

“The relationship between China and the rest of the world has become ever closer during the 30 years. Since the establishment of diplomatic ties, the bilateral relations between China and Australia have also developed remarkably, and cooperation in economic and trade areas has yielded fruitful results. Since the beginning of the 21st century, bilateral trade volume doubled every 3 years and China has become the biggest trading partner of Australia in 2007,with bilateral trade volume accounting for 15% of the total Australian foreign trade. The rapid development of China-Australia economic and trade relationship has brought tangible benefits for both countries and both peoples.”

When talking about the current economic trends in the world, Ambassador Zhang said that the present global financial turbulence has posed great challenges to the stability and the development of world’s economy. “To cope with the crisis, countries need to take active measures and strengthen cooperation. China will adjust accordingly its financial policy to maintain the stability of its macro economy and financial market. China is prepared to strengthen coordination and collaboration with Australia and the international community to overcome the current complex global challenges, so as to promote the harmony and the sustainable development of the world.”

“In 1978, ‘Ping Xiang Cheng’ started her sailing from Shanghai to Sydney, which unveiled a new chapter of China-Australia container line service. Since then, COSCO has been actively engaging in the transportation and delivery of energy and resources such as liquefied natural gas, iron ore, timber and etc. between the two countries. It not only plays an important role as a bridge of China-Australia economic and trade links, but also contributes to the local economic and social development. I’m pleased to see that COSCO is now operating shipping services in more than 160 countries and regions worldwide. With a high ranking on retained profits among competitive shipping companies, COSCO has successfully enhanced its status as a global company in the international shipping industry, standing firmly in Fortune Global 500 for its outstanding performance. ”

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