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Speaker 1: Chinese investment in New Zealand isn't as robust as you

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Speaker 1: might think it is, but it is growing sort of.

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Speaker 1: A new report from the Chinese Business Council and INSIDIR

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Speaker 1: shows China ranks twelfth for direct foreign investment to New Zealand.

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Speaker 2: Growth averaged about nine percent a year over the past decade,

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Speaker 2: but it has been flattening or declining since COVID. Chris

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Speaker 2: Nixon is principal economist at ENSIDII and with me this morning. Morning, Chris,

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Speaker 2: good morning. The fact investments.

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Speaker 1: Slowing is them not us, right, Like they're not investing

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Speaker 1: as much globally.

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Speaker 3: I think that's right. But our investment with China is

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Speaker 3: also growing rather slowly as well that our trade numbers.

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Speaker 1: Yeah, they are our largest trading partner, but then only

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Speaker 1: twelfth on investment.

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Speaker 2: Is there normally a stronger relationship between the.

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Speaker 3: Two well, I mean the problem here is that investment

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Speaker 3: is a long term game, and with other countries who

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Speaker 3: have traded for Australia, for example, for over one hundred

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Speaker 3: and fifty years, they have a much greater advantage than

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Speaker 3: the Chinese. Because we've only really been training trading with

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Speaker 3: the Chinese for the last twenty years, so you would

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Speaker 3: expect that it will take time for the relation to

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Speaker 3: ship to build.

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Speaker 2: Chris, what do they want to invest in?

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Speaker 3: Well, I think they if you look at the spread

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Speaker 3: of investments so far, they are investing in almost everything.

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Speaker 3: I think there are going to be opportunities for New

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Speaker 3: Zealand to invest in China and China to invest in

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Speaker 3: New Zealand in all sorts of things like what Well,

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Speaker 3: for example, New Zealand has invested in dairy in China,

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Speaker 3: also in things such as pet food in New Zealand.

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Speaker 3: It's pretty clear that I've invested in consumer goods given

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Speaker 3: that twenty one percent of our trade comes from China.

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Speaker 1: John McKinnon says we're entering a no stone unturned period

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Speaker 1: of investment attraction here and we've seen announcement after announcement

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Speaker 1: from the government on you know, basically come here, invest, emigrate, spend,

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Speaker 1: We're open for business. Do you think the message is

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Speaker 1: getting through?

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Speaker 3: Well, look, I mean I'm not really that focused on

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Speaker 3: the short term. I want consistency over the long term.

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Speaker 3: We need because it's a long term business. We want

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Speaker 3: consistency between as governments change in New Zealand, so our

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Speaker 3: bipartisan approach is really important and are consistent bipartisan.

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Speaker 2: Approach Do you think we'll get that?

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Speaker 3: Well, time will tell, but I mean it's my advice

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Speaker 3: as an economist to point this out.

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Speaker 2: Message hurdlard and clear.

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Speaker 1: Chris Nickson, thanks for your time this morning, principal economists

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Speaker 1: at ENZIR and those new numbers this morning. For more

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