The Victor Smorgon Group, a privately owned industrial leader with diversified businesses in Australia, is looking for trade and investment opportunities again in China after it quit the steel business in the world's second-largest economy some two decades ago, according to a senior company executive.

 

"We are planning to export agricultural products to the Chinese market, as well as seeking other investment opportunities, as both countries are highly complementary in the agricultural industry," said Peter Edwards, managing director of Victor Smorgon Group.

 

With plenty of land, natural resources and an advanced technology and management system, Australia, whose agricultural industry has great advantages in terms of cattle farming and planting crops, would provide agricultural products to consumers in China, where demand is growing for high-quality foodstuffs, according to Edwards.

 

One of the latest developments in VSG's strategy in China is a cooperative project, called "My Cow in Australia", in which Chinese consumers are allowed to feed and manage their cattle until the beef is finally delivered, according to Edwards.

 

He said that the company also plans to export other products such as green vegetables, blue fin tuna and fruit juice to China.

 

"We are prepared to see more Chinese elements in our development," said Edwards.

 

China's booming Internet industry would help build a more direct, economical and competitive platform for Australian agricultural products and other industries to enter the Chinese market, said Edwards.

 

"The fast-changing mobile industry has provided new business models for us to enter the market," said Edwards.

 

He said the company's growing presence in China will mainly be prompted by a free trade agreement between China and Australia. "As more and more Chinese enterprises invest in Australia, more Australian firms are expected to enter China in the future," he added.

 

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