Former NZ PM sees broad scope for NZ-China cooperation

Summary

Speaking at the 2026 Wenzhou Entrepreneurs Development Dialogue and Zhejiang Belt and Road Think Tank Forum in Wenzhou, Zhejiang on 10 October 2026, former New Zealand Prime Minister Jenny Shipley said infrastructure connectivity and international cooperation relationships formed under the Belt and Road Initiative have played an important role in helping China maintain economic resilience amid a highly volatile global economic environment. The forum, one of the events in the Mingde Strategic Dialogue (2026) series, was co-hosted by Wenzhou Business College and the Zhejiang Provincial Development Planning Research Institute, with support from the Chongyang Institute for Financial Studies at Renmin University of China and the Global Leadership Academy. Former political leaders, scholars, think tank experts and representatives of global Wenzhou entrepreneurs from a number of countries attended.

Shipley said trade between China and Belt and Road partner countries now accounts for 51 percent of China's total foreign trade, and pointed to 15.4 percent growth in China's trade with ASEAN and Latin American countries in early 2026. Against a backdrop of rising protectionism and growing uncertainty in global supply chains, private enterprises need to re-examine where they direct skills, talent and capital, and use existing international cooperation networks to open new markets, she said. During the forum, Shipley and other foreign guests visited the China Eye Valley, where she expressed strong interest in the use of remote screening and artificial intelligence technology in children's eye health, saying it could offer new possibilities for cross-border telemedicine cooperation.

On NZ-China trade and economic cooperation, Shipley said there is broad scope for cooperation both for New Zealand companies seeking to capture opportunities under China's 15th Five-Year Plan and for Chinese companies investing in New Zealand. New Zealand firms are mostly small and medium-sized enterprises, which align well with Wenzhou's private businesses, she said. She stressed that open trade is particularly important for a small open economy like New Zealand, that China is an extremely important market for New Zealand, and that New Zealand's political and business circles see trade with China as an opportunity rather than a threat.

The two economies are highly complementary, and the bilateral free trade agreement has injected momentum into the trade and economic relationship, she said.

Commentary

Former New Zealand Prime Minister Jenny Shipley's remarks at the Wenzhou forum highlight the pragmatic approach of New Zealand's political circles towards trade and economic cooperation with China. She noted that trade between China and Belt and Road partner countries already accounts for 51 percent of China's total foreign trade, and pointed to 15.4 percent growth in China's trade with ASEAN and Latin America in early 2026, offering a reference point for New Zealand SMEs: with protectionism on the rise, using existing international cooperation networks to open new markets is a viable path. As a small open economy, New Zealand exports 95 percent of its dairy production, and China is its largest single market, with Fonterra's Greater China business accounting for about 25 percent of global revenue.

Following the upgrade of the NZ-China free trade agreement, tariffs on infant formula were further reduced, creating opportunities for smaller dairy firms to enter China's second- and third-tier cities. Shipley also cited AI-enabled telemedicine technology at China Eye Valley, suggesting New Zealand could explore cooperation in health technology. But China's trade growth with ASEAN and Latin America has outpaced its trade growth with New Zealand, and New Zealand companies need to move faster to build differentiated advantages in niche areas.

Wenzhou's private economy is structurally similar to New Zealand's SME base, and the two sides have potential for collaboration in light manufacturing and food processing. New Zealand firms should focus on the green transition and digital economy directions in China's 15th Five-Year Plan rather than relying solely on traditional agricultural exports.

Keywords: Jenny Shipley, Belt and Road Initiative, NZ-China trade and economic cooperation, Wenzhou, private enterprises, 15th Five-Year Plan, trade protectionism, artificial intelligence, bilateral free trade agreement

Source: Xi Jinping Thought on Diplomacy and China’s Diplomacy in the New Era