China the big threat, Australia the chance

New Zealand businesses feel threatened by China, an international survey has found.

The Grant Thornton International business owners survey asked mid-sized businesses which country they saw as their biggest business threat or opportunity.

About 27 per cent of New Zealand respondents saw China as their biggest threat, while 13 per cent rated it their biggest opportunity.

Australia was seen as the biggest threat by 14 per cent of respondents and the biggest opportunity by 29 per cent.

Grant Thornton New Zealand chairman Warwick Jones said there was clearly a concern about China dominating export trade.

"We know that there are tremendous opportunities in China for New Zealand companies but the reverse effect unfortunately overshadows that," he said.

He said Trade and Enterprise and other export organisations were going to have to put in a lot more spade-work if opportunities in China were to be realised.

"Only in this way will the spectre of China as a threat be diminished," Jones said.

The survey canvassed more than 7000 owners of medium-sized businesses.

- NZPA