News Formal

Chinese investment in Australia plunges as tensions mount | Malay Mail

  • 📰 malaymail
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 86%

United States News News

United States United States Latest News,United States United States Headlines

SYDNEY, Sept 14 — Chinese investment in Australia almost halved in 2019, new data released today showed, as relations between the two countries deteriorated. Researchers from the Australian National University said Chinese investment Down Under plunged from A$4.8 billion (RM14.5 billion) to just...

Canberra has barred Chinese telecoms giant Huawei from being a major player in its 5G rollout, a decision that riled Beijing. — Reuters pic

Professor Peter Drysdale, who led the data research, said the A$1.43 billion purchase of infant formula producer Bellamy's Australia by China's Mengniu Dairy accounted for more than half of that investment. “ the last few years, clearly Chinese investors have found the investment environment in Australia less certain and have been more cautious about undertaking investment in Australia,” he told AFP.

Drysdale said structural changes were also partly to blame, with Chinese investors retreating from mining and resources as the commodity boom weakened.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Chinese investment in Australia almost halved as tensions mountThis is the third consecutive year that Chinese investment in Australia dropped. FMTNews Australia
Source: fmtoday - 🏆 5. / 72 Read more »