2 weeks Chinese investment in Australia plunges Manilatimes |World
SYDNEY: Chinese investment in Australia almost halved in 2019, new data released on Monday showed, as relations between the two countries deteriorated. Researchers from the Australian National University said Chinese investment Down Under plunged from Aus$4.8 billion (US$3.5 billion) to just Aus$2.5 billion last year. Professor Peter Drysdale, who led the data research, said the Aus$1.43 billion purchase of infant formula producer Bellamy’s Australia by China’s Mengniu Dairy accounted for more than half of that investment. It was the third consecutive year that Chinese investment in Australia dropped since peaking at Aus$15.8 billion in 2016. The steep fall far ... more