China’s pull is still proving irresistible to New Zealand exporters, despite the government’s call to diversify away from the trade behemoth. Stuff has today published an in-depth explainer on the growth of exports to China and the way that newfound reliance has reshaped our export sectors, leaving New Zealand exposed if relations sour. In the first half of 2019 and 2020 goods exports there made up around 26 per cent of our total exports. Dairy giant Fonterra derived 46 per cent of its first-half pre-tax profit from Greater China – which includes Mainland China, Hong Kong and Taiwan. Even so, the company had seen its proportion of sales in China grow over the past five years.

Source: Stuff August 11, 2021 17:00 UTC