Australia places China high on innovation agenda

Australia is placing China high on its innovation agenda, as part of its plans to boost innovation, the media reported on Thursday.

The Australian government announced plans in February to establish an innovation hub for entrepreneurs in Shanghai, Xinhua news agency reported.

China was always going to be a logical place to create one and it's great to see the government thinking beyond mining, energy, agriculture and education, which have formed the basis of the trade relationship between China and Australia, said Australia Chamber of Commerce chair Tracy Colgan.

"Some have questioned what Australia has to add to this highly innovative and competitive marketplace in China," Colgan said.

"It's a good point, and anyone who has spent time in China will notice how far ahead in adopting technology this market is when compared to Australia," she said.

Australian Minister for Industry, Innovation and Science Christopher Pyne said that entrepreneurs accessing the landing pads will be assisted to commercialise their products and services through access to the expertise, infrastructure and innovation and marketing networks of partners.

At a Committee for Economic Development (CEDA) event in Sydney, Australian Assistant Minister for Innovation Wyatt Roy said China should be looked on both as a source of customers and investment.