BeefEx told China’s shift to trade offers opportunity: NAB



China is changing how it does business and the shift in thinking from self-sufficiency to trade provides a massive opportunity for beef exporters, given the size of China’s production and population.

This is the message from Hong Kong-based Patrick Vizzone, NAB’s Regional Head of Food and Agribusiness, speaking at the BeefEx conference on the Gold Coast today.

Mr Vizzone told the conference that the Chinese population had already largely moved from a starch-based diet to one of protein.

“The Chinese population’s consumption of protein is higher than most people think. In fact, the average proportion of calories obtained from meat is currently higher than Australia and most developed countries.

“The next move is replacing pork with higher quality proteins such as beef, and the expectation is for China to increase meat imports as it increasingly leverages the benefits from trade.

“Even ripples emanating from China will appear like a tsunami in global markets because total demand there (now and into the future) is vast relative to the size of most other countries’ production.”

Mr Vizzone said that prospective exporters to China need a disciplined, long-term strategy to succeed, as well as alignment with government interests.

“Key elements of this are building an understanding of the market and operating environment, and building relationships with trade and investment partners.

“That’s generally well understood but I can’t stress just how important it is. A key risk is rushing to get a deal done without a sustainable strategy.

“One option is to start with the more established markets of Taiwan or Hong Kong before taking on China.

“Saying that, ‘China’ is not a single market and you need to plan regional market entry strategies. For example spending on meat varies greatly by province, with Guangdong by far the greatest spender.”

NAB is working with its clients on a number of fronts to establish business partnerships and develop new opportunities in Asia. These include branches in Hong Kong, Shanghai, Singapore, Tokyo, Osaka and Mumbai, as well as representative offices in Beijing, Jakarta and Hanoi. NAB Agribusiness has had a presence in Asia since 1969.

Agribusiness View provides the latest insights from NAB Agribusiness. Visit to sign up as well as to find the contact details for your nearest NAB Agribusiness Manager.



Related Articles

  • Half Year Results

Video: NAB CEO Andrew Irvine discusses 2024 Half Year Result

In this video interview NAB CEO Andrew Irvine reflects on NAB’s 2024 Half Year Results, economic conditions and the bank’s strategic direction.

  • 02.05.2024
  • Time to read 1 min read
  • Half Year Results

NAB announces 2024 Half Year Results

NAB has today released its 2024 Half Year Results to the market.

  • 02.05.2024
  • Time to read 1 min read
  • Executive Team

NAB Executive Leadership Team changes

National Australia Bank Group Chief Executive Officer Andrew Irvine has announced changes to NAB’s Executive Leadership Team.

  • 10.04.2024
  • Time to read 2 min read

Quick links

National Australia Bank — NAB

Sometimes When The Unexpected Happens, We Realise What We Truly Value. Whether A Home, Farm, Business Or Your Passion, NAB Is Here To Support You.

Business Research and Insights

For more business news and analysis, visit NAB’s Business Research and Insights.