Australian firms ink $3.1 bln in China deals: report

Australian firms have signed 3.1 billion dollars worth of contracts for projects in Guangdong, a report said Tuesday, with further deals possible according to the Chinese province's governor.

"At present, it is a good time for further enhancing the cooperation between Guangdong and Australia," Huang Huahua said in Sydney on Tuesday, the Australian Associated Press (AAP) reported.

"We welcome enterprises in Australia to seize new opportunities," he said at a ceremony which made official 27 infrastructure, agriculture and industrial projects in the Southern Chinese province, AAP reported.

Huang called on Guangdong and Australia to focus on mineral and energy cooperation, two-way investment, and to strengthen scientific and technological cooperation in an effort to spur economic growth, the report said.

Trade between Guangdong and Australia was worth 8.14 billion dollars in 2008, AAP said, accounting for around 13 percent of total trade between China and Australia.

Guangdong has so far approved direct investment from Australia worth 650 million dollars, the report said.

At the Hong Kong-Guangdong Business Conference in Sydney, Henry Tang, Hong Kong's chief secretary for administration, also encouraged Australian businesses to consider including Hong Kong in their China strategy.

Australia has emerged recession-free from the global financial crisis, helped by buoyant trade with China, which totalled 74 billion dollars (68.5 billion US) last year.

Fast-industrialising China has maintained a big appetite for Australian resources despite the global downturn, most notably its unsuccessful bid for a 19.5 billion US dollar tie-up with mining giant Rio Tinto.