Latest news with #US862
The Age
16-07-2025
- Business
- The Age
Chinese premier rebukes Australia over investment
Chinese Premier Li Qiang has redoubled his demands for Australia to loosen its rules on foreign investment, warning Prime Minister Anthony Albanese at a formal meeting in Beijing that companies from the superpower expect fair treatment. Chinese direct investment in Australia has slowed in recent years amid national security concerns about overseas influence in critical industries such as infrastructure and resources. China has been pushing to lower the barriers to entry mandated by Australians Foreign Investment Review Board, which can block attempts at investment or reverse them, such as an order last year to push China-linked investors out of a critical minerals company in WA. After the pair inspected Chinese troops in immaculate dress uniforms, Li told a business roundtable attended by Albanese last night that China was seeking fairness. 'I trust that Australia will also treat Chinese enterprises fairly and also properly resolve the issues [of] market access and review,' he said. According to figures from consultancy KPMG and the University of Sydney, Chinese investment in Australia increased from $US613 million in 2023 to $US862 million in 2024. But that is still sharply down on the highs of 2008, when it hit $US16.2 billion or even as recently as 2017, when it was $US10 billion. Against a backdrop of US President Donald Trump's mercurial tariff policies, Li positioned China as a force or stability in an unstable world. 'We hope that you will embrace openness and co-operation, no matter how the world changes,' Li said. 'You should be promoters of economic and trade co-operation, so that our two countries will better draw each other's strengths and growth together. I hope the businesses will make good use of the free trade agreement between all two countries.
Sydney Morning Herald
16-07-2025
- Business
- Sydney Morning Herald
Chinese premier rebukes Australia over investment
Chinese Premier Li Qiang has redoubled his demands for Australia to loosen its rules on foreign investment, warning Prime Minister Anthony Albanese at a formal meeting in Beijing that companies from the superpower expect fair treatment. Chinese direct investment in Australia has slowed in recent years amid national security concerns about overseas influence in critical industries such as infrastructure and resources. China has been pushing to lower the barriers to entry mandated by Australians Foreign Investment Review Board, which can block attempts at investment or reverse them, such as an order last year to push China-linked investors out of a critical minerals company in WA. After the pair inspected Chinese troops in immaculate dress uniforms, Li told a business roundtable attended by Albanese last night that China was seeking fairness. 'I trust that Australia will also treat Chinese enterprises fairly and also properly resolve the issues [of] market access and review,' he said. According to figures from consultancy KPMG and the University of Sydney, Chinese investment in Australia increased from $US613 million in 2023 to $US862 million in 2024. But that is still sharply down on the highs of 2008, when it hit $US16.2 billion or even as recently as 2017, when it was $US10 billion. Against a backdrop of US President Donald Trump's mercurial tariff policies, Li positioned China as a force or stability in an unstable world. 'We hope that you will embrace openness and co-operation, no matter how the world changes,' Li said. 'You should be promoters of economic and trade co-operation, so that our two countries will better draw each other's strengths and growth together. I hope the businesses will make good use of the free trade agreement between all two countries.
