China Buys Australia’s Largest Cotton Producer
September 10th, 2012Via: Sydney Morning Herald:
CHINESE investment in Australia almost doubled last year as the world’s second-largest economy flexed its economic muscles abroad, according to new data from the Ministry of Commerce.
Recent Chinese investment in Australia includes the sale of Australia’s largest cotton producer, Cubbie Station, to a Chinese-led consortium, approved by the Foreign Investment Review Board on Friday.
Chinese companies – both private and state-owned – invested a total of $3.2 billion in Australia in 2011, an 86 per cent increase from 2010. Australia is the third-most-popular investment destination behind the European Union and the ASEAN countries.
