The government of William McMahon sought to improve non-official relations with China, in areas such as trade and culture, but China was not receptive to such exchanges without diplomatic recognition. As opposition leader, Gough Whitlam visited China in 1971 (before Henry Kissinger's historic visit on behalf of the United States), and in December 1972, after Whitlam's victory in that year's federal election, Australia established diplomatic relations with the People's Republic of China, and Australia ceased to recognise the Republic of China government of Chiang Kai-shek in Taiwan. Although Whitlam's decision was informed by warming relations between China and the West generally, especially the United States, Australian diplomatic relations with the People's Republic predated that of the United States by seven years. The establishment of relations with "Red China" roused great excitement in Australia. Stephen Fitzgerald became the first Australian ambassador to the People's Republic of China, and Wang Guoquan was the first PRC ambassador to Australia. Since the Chinese economic reforms initiated by the late Deng Xiaoping, China has benefited from significant investment in China by Australian companies (for example, future Prime Minister Malcolm Turnbull had set up the first Sino-foreign joint venture mining company in China in 1994), while Australia has benefited from the Chinese appetite for natural resources to modernise its economy, infrastructure and meet its growing energy demands. In 2009, it was estimated the trade and investment with China brought benefits of close to $4000 per Australian household; in 2011, this was estimated to be A$10,500 per household per year. China and Australia were the final two bidders for the 2000 Olympics. Australia subsequently won and Sydney hosted the 2000 Olympics. Eight years later, China hosted the Beijing Olympics in 2008. Australia is one of the few countries in the world during the global financial crisis that was not in recession. Its continued economic growth due to that period is partly attributed to large demand and long term strong fundamentals from China. As China's influence raises, the Chinese government has been trying to control and monitor the ethnic Chinese living and studying in Australia, and to influence Australian politicians via political donors, which causes serious concern to Australia's security agency, Australian Security Intelligence Organisation. The Chinese foreign ministry responded that such a charge was groundless. The national security department of China accused the Australia intelligence agency of trying to collect information from overseas Chinese, and even encouraging them to subvert Chinese government. Australia's ties to China include its relations with Hong Kong which date back to when both were under British rule. Although Hong Kong, as a special administrative area of China, cannot conduct its own foreign affairs, consular and economic representations exist.