That's just one part of the Asian century story for Australasia.
Meanwhile, a recently released report on global migration of the super-wealthy found that the two most popular cities in the world for net inflow of millionaires in 2015 were Sydney (4,000) and Melbourne (3,000). Australia is becoming a playground for wealthy Asians.
As noted in these pages many months ago, though, perhaps the most significant change for Australia will be the record boom in international students, since this will in turn lead to higher permanent residency uptake.
The government has announced that from 1 July 2016 - just a few weeks away - that there will be a series of important changes to the student visa programme.
There will now only be one visa class only for international students, subclass 500, and under the new streamlined process three quarters of applications will be waved through in less than one month.
International students with the requisite funds or income and English language skills will be able to apply for the new visa, including Primary School student applicants (from the age 6 or above) and their guardians or family members.
This represents a very significant shift in policy.
The rules have also been relaxed with regards to course duration and immigration risk assessment.
As a result of the new changes, there could potentially be a huge increase in the number of Primary School age Chinese students and their guardians, with many ultimately going on to become Australian citizens.
With a combined population of about 2.7 billion or so, there is boundless potential for uptake from China and India in particular.
And thanks to the streamlining of visa rules from 1 July 2016 the number of international students will likely begin to flow freely more or less in perpetuity.
This is another trend which is largely driven by China and India, and it is also heavily focussed upon the largest capital cities.
It is true that net exports are leading growth, and certainly there has been concentration risk aplenty, but the international trade data confirmed that the pace of education, tourism and other services exports to China and other parts of Asia is accelerating.
No doubt there will be the usual shrill complaints from the anti-immigration lobby about the streamlining of entry rules for international students, but overall this should be be a material boost for the Australian economy - and indeed for the beleaguered new apartment market.