| Business leaders are urging Anthony Albanese to ease restrictions on Chinese investment and open the door for more collaboration between companies from both countries, as the prime minister heads to China.
China slapped sanctions on $20 billion of Australian exports at the height of Sino-Australian tensions in 2020. It has now wound back many of those restrictions as it reopened high-level communications with Canberra after Labor won power.However, Australian executives and bankers doing business in China said local companies and clients were reluctant to invest in Australia because of a history of regulators blocking deals on national security grounds.
“We are hosting multiple parties coming back into Australia looking at it as an investment again. We want that to continue to grow and for that to be the norm.”which opens in Shanghai on Monday, an event they say symbolises a “reset” of the business relationship. “They are going elsewhere. There is Chinese money going to other places, such as Africa and Latin America.”