China has become Australia's largest trading partner. Last November, combined China and Hong Kong trade with Australia passed Japan to take top spot. Now China holds the No 1 position in its own right, according to the latest data from the Australian Bureau of Statistics. Japan had held top spot since 1970/71. Over the year to July, China-Australia trade totalled $50.5 billion, up 20 per cent on a year ago. Trade with China has doubled in the space of just three years
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