Aussie move that could enrage China
The crackdown follows an indefinite restriction slapped on foreign investment bids in March, after several Chinese-owned companies in Australia were linked with exporting tonnes of medical supplies and shipping them back to China.
“It is vital that the government have the ability to call in an investment before, during or after acquisition for review if it raises national security concerns.” Nationals MP George Christensen has urged the Prime Minister to threaten to force China to divest the asset, a suggestion Mr Morrison has brushed off.“Australia has an enviable track record when it comes to welcoming foreign investment from around the world,” he said.
• A time-bound power that will enable the Treasurer to ‘call in’ an investment before, during or after an acquisition for review if it raises national security risks and was not captured by the sensitive national security businesses’ definition. Mr Irvine has previously led the nation’s top spy agencies as a former Director‑General of the Australian Security Intelligence Organisation and the Australian Secret Intelligence Service.
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