While the federal government didn't mention China directly, the new changes to foreign investment laws are designed to curb Beijing's growing influence, according to The Australian's Paul Kelly.
While the federal government didn't mention China directly, the new changes to foreign investment laws are designed to curb Beijing's growing influence, according to The Australian's Paul Kelly. On Friday Treasurer Josh Frydenberg announced a major shakeup of Australia’s foreign investment laws including “last resort” powers which will allow him to break up foreign investments in exceptional cases.
Mr Kelly told Sky News the reforms are "all about China". "What we have seen is the transformation about the nature of foreign investment," he said. "There was once a time when foreign investment was about economic returns, but as the prime minister and the treasurer made clear this week, foreign investment now has a strategic purpose.
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