Both of our countries see the importance of science, technology and innovation as a driver of economic growth.
After speaking with the Shanghai Party Secretary, Mr Han Zheng and he was talking about the central importance of innovation for as part of China’s economic plan for its continued growth. So this is a key priority in a world that is rapidly changing. Where there is great disruption. Great growth of course, but great disruption and change caused by extraordinary new technologies after all, one of them just ringing there [Laughter] all of us have in our pockets a smart phone. Let me tell you those smart phones – there are seven hundred million of them in China – they have the processing power of a 1990s super computer.
We are delighted to see the pro innovation policies here in China. They are incubators like Innovation Works in Beijing, [Inaudible] one of 200 incubators in Shenjing, and China Accelerated here in Shanghai - examples of this dynamic movement.
This is a global city here in Shanghai for technology, innovation and entrepreneurship.
Last year, Shanghai was home to nearly four hundred R&D centres. It has a vibrant technology investor and venture capital community and the landing pad here - that we will establish here - will give Australian innovators and Australian technology companies the chance to tap into the global eco-system - those strategic partnerships, investment capital and advisory support networks. This is a global business. All of these opportunities are global and it’s vital that Australian businesses are able to tap into that. They’ll work together, they’ll inspire each other, they’ll generate new ideas, new products, new services and deepen the already deep relationship between Australia and China in trade, in commerce, in innovation and science.
The China Australia Free Trade Agreement, of course, is helping to integrate our economies further through open markets and it’s a great honour for me to be here as Australia’s Prime Minister, the first Prime Minister to visit Australia since the entering into force of the China Australia Free Trade Agreement.
So, we are very excited about the Innovation Landing Pad here in Shanghai. We know it’s going to be a great success and we will see further exciting innovation, exciting new businesses pulling Australia and China closer together as our economies grow together in the years ahead.
Thank you very much indeed for being here on this great occasion. Thank you.