Chinese investment in Australia up 11.7% in 2016
May 8, 2017 Category Foreign investment, Weekly
Chinese investment in Australia surged 11.7% last year to AUD15.4 billion amid booming demand for agricultural assets and infrastructure. A record 103 deals were signed with Chinese companies in 2016, with 76% of those reached with private firms, KPMG and the University of Sydney said in the report “Demystifying Chinese Investment in Australia”. While Prime Minister Malcolm Turnbull’s government blocked two key purchases by Chinese companies last year, citing national security reasons, the report shows the vast majority of deals were approved. “There are signs of a growing maturity by Chinese investors in the Australian market,” the report said in its key findings. “The number of joint ventures is increasing with more repeat investments by established Chinese companies. This has set a foundation for growth in future investment.” Commercial real estate remained the largest sector, attracting 36% of Chinese investment, followed by infrastructure with a record 28%, including the purchases of Asciano and the Port of Melbourne. Agribusiness rose three-fold from 2015 to more than AUD1.2 billion. However, opinion polls show there is public unease about Chinese investment, particularly from state-run companies, in farmland and other key assets. In 2015, the government tightened scrutiny for selling farmland to Chinese, Japanese and Korean buyers by requiring purchases of land worth AUD15 million and over to be screened for approval, the South China Morning Post reports.
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