New figures show Chinese investment in Australia is continuing to plummet amid growing tension between the two countries and companies from the mainland turning towards emerging markets.
There were big falls across most sectors in 2019, including real estate, mining and manufacturing. Investment in agriculture collapsed but picked up slightly in both the construction and finance sectors.
Chinese companies are increasingly focused on developing markets and Beijing is trying to stem the flow of capital offshore, with foreign direct investment from China dropping globally by almost 10 per cent in 2019.which brought heavy flows of investment from ChinaBut Professor Drysdale said Chinese investors were also turning away from Australia because of new regulatory barriers thrown up by the Government.
There have been a series of intense political controversies over Chinese investment in Australia in recent years, and the Federal Government has intensified its scrutiny of foreign investment more broadly.WatchCan the big miners avoid being caught in the new cold war between Australia and China? The biggest transaction recorded by CHIIA in 2019 was the Mengniu Dairy Company's acquisition of infant formula maker Bellamy's Australia for $1.5 billion.
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