find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
China slowdown unlikely to impede Aussie firms

China slowdown unlikely to impede Aussie firms

John Wells, Lander & Rogers

While growth in the Chinese economy has slowed, Chinese investment in the Australian market will not be affected, according to a Lander & Rogers partner.

Speaking at an economic briefing at Lander & Rogers last week, Westpac chief economist Bill Evans highlighted the slowdown in China’s economic growth.

“If we take a longer-term view on the overall China story, then certainly we've seen a long-term structural slow down in their growth,” Mr Evans said.

Mr Evans said China is trying to rebalance its economy more towards services and consumption, and away from investment, which has sat unusually high for a very long time. However, the rate that services are picking up isn't matching the rate at which investment is dropping off, resulting in an overall slowdown in growth.

“Investment, which is basically industrial production, construction, etc, the things that Australia knows and loves and things that are helping our resources sector, that's now starting to slow and that of course has huge implications for Australia,” Mr Evans said.

Lander & Rogers partner John Wells (pictured) responded to Mr Evans' comments saying that he isn't worried that the level of activity of Chinese investors in Australia will drop off and that lawyers working with Chinese investors will continue to be busy.

“From where we sit today I don’t [think there will be a slowdown in Chinese investor activity]. I think only if something fundamental happens, where a particular policy decision gets made that no one saw coming, could you have a really fundamental change.”

While Mr Wells acknowledged Mr Evans' point that China is slowing its investment in Australia’s mining sector, he said that’s across the board – not China-specific.

To stay in the game, Mr Wells said law firms that previously focused on mining need to re-calibrate themselves. “Firms need to fill their construction practice with things like the residential development on high-rise scales, and so on, rather than building mines in the Pilbara.”

With the state of the Australian dollar and enormous buying power of Chinese sovereign wealth funds, Mr Wells is confident that law firms will still be actively working with Chinese investors.

“I don’t expect to see any slowdown in Chinese investment into Australia because, from a currency perspective, its 30 per cent cheaper now than it was 12 months ago.”

Like this story? Subscribe to our free newsletter and receive Lawyers Weekly every day straight to your inbox.


Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

China slowdown unlikely to impede Aussie firms
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...