The South Australian Government has agreed to help fund a permanent office, laboratory and manufacturing space in China designed to help the state's companies break into that country's market.
Science and Information Economy Minister Gail Gago met with Qingdao National High-Tech Development Zone representatives this week to sign the SinoSA House establishment agreement.
SinoSA will help companies to establish subsidiaries and joint ventures in Adelaide’s sister city, Qingdao, promoting the export of high-tech products and services.
“China is South Australia’s largest and fastest growing trading partner. The State Government wants to strengthen this partnership and create new opportunities for technology exports and job creation,” Ms Gago said.
She continued, “We have hundreds of technology companies in need of partnerships, investment and infrastructure and China can supply these resources.
“Through our strong networks we have uncovered a high demand for technological innovations such as medical devices, health and assistive technologies and environmental devices.”
BioSA has recruited experienced biotech executive, Brendan Mason, to lead the initiative.
Chief Executive of BioSA, Dr Jurgen Michaelis, said Mr Mason has extensive experience and business networks and will be able to liaise with Chinese counterparts to ensure companies reap the full benefits.
SinoSA House will be based in one of the fastest growing high tech regions in China, Qingdao.
“South Australian companies will have access to office, laboratory and manufacturing space as well as assistance to access the Chinese market which would otherwise be difficult due to regulatory and cultural barriers,” Ms Gago said.
“It is an opportune time as SA will benefit from the free trade agreement and also the establishment of a Chinese consulate general in Adelaide.”