Guangzhou enterprises were invited to invest in Australia at an event in Guangzhou, Guangdong province's capital, on May 8.

Organized by the Guangzhou Municipal Commission of Commerce, the Australian Consulate-General in Guangzhou and the investment department of South Australia, the business event attracted hundreds of government officials, agents and company representatives who discussed cooperation in fields of infrastructure, tourism and biotechnology.

Cao Zhicong, inspector of the Guangzhou Municipal Commission of Commerce, delivers a speech at the promotional event encouraging Guangzhou enterprises to invest in Australia, held in Guangzhou, May 8. [Photo/gzhea.org.cn]

Australian government departments briefed Guangzhou entrepreneurs on the country's general environment for business and investment, while the Guangzhou Office of State Administration of Taxation provided consultation on the tax system affecting overseas investments.

Australia has proved an important partner in trade and investment, showing a year-on-year increase of 11.6 percent in total trade value at $2.19 billion in 2016.

The Consul-General of Australia in Guangzhou, Dominic Trindade, gives a brief introduction of Australia's business environment at the promotional event. [Photo/gzhea.org.cn]

Guangzhou and Australia have experienced a boom in bilateral investments.

As of the end of 2016, Australian companies had invested in 270 projects in Guangzhou, toting up to $340 million. Guangzhou invested $500 million on 35 Australian projects last year.

In conjunction with the Fourth China-Australia Literary Forum recently opened in the city, the investment attraction activity is expected to encourage Guangzhou enterprises to expand into Australia amidst economic and cultural exchanges between the two countries.