20. The new subsection 153ZOB (6) provides that, despite Article 14, paragraph 2, of the Legal Instruments Act 2003, the provisions may, for the purposes of Division 1L, apply, accept or accept, with or without modification, all substances contained in an existing instrument or other writing or writing from time to time. The new subsection 153ZOB (6) is included to ensure that there is an appropriate transfer of legislative powers if necessary for the implementation of the agreement, for the adoption, adoption or integration of an instrument or other writing that is not an unauthorized law or legal instrument. For example, this provision has allowed, in the implementation of other free trade agreements, to refer the regulations to the general accounting principles of a country other than Australia for the purpose of calculating the regional value. 153. The “Movement of The Physical Persons” chapter provides for the temporary registration of service providers and investors. Obligations on the free movement of people will promote increased trade and investment between the two countries, reduce barriers to labour mobility and improve temporary access to people in the context of each country`s immigration and employment. 15. For some products, China applies a tariff below the maximum rate allowed under World Trade Organization (WTO) commitments, which means that China still has the ability to increase tariffs on these products. For example, in October 2014, China increased its tariffs from zero to 3% on anthracite and coking coal and 6% on non-coke coal and oil coal, which was consistent with WTO rules but still posed difficulties for Australian coal exporters. With these tariffs, Australian coal no longer competes on a level playing field with Indonesia`s major supplier, which continues to export without coal to China. 3.
At the end of 2013, Chinese investment in Australia was $31.9 billion and Australian investment in China was $29.6 billion. While bilateral investment is modest compared to other trade and investment relationships, investment in both directions is growing rapidly: at the end of 2013, Australian investment in China increased by 39% and Chinese investment in Australia increased by 41% over the previous year. 52. Chinese demand for sheep meat is also growing rapidly. In 2013-14, total Chinese imports of sheep meat reached a record level of 293,000 tonnes, up from 198,000 tonnes in 2012-13.