Australia’s business relationship with China is growing. However, there are cultural differences between the residents of the two countries that may lead to differences in attitudes and actions. These differences can present obstacles to optimising the benefits to be gained from mutual business cooperation. In order to understand how the future business leaders (present students) view the potentiality for doing business in each others’ countries, groups of commerce students in Australia and China were surveyed using the same set of questions. The results identified interesting similarities and differences. Analysis of the responses helps us to detect the knowledge gaps and differences in perceptions and future outlooks between Australian and Chinese students which may impact on the future business relationship between the two countries.