Chinese investment in Australia plummets 47% in a year as diplomatic tensions rise


Source: webstynx.com webstynx.com

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Chinese investment in Australia has plunged almost 50% in a year, a new analysis has found, as souring relations between Canberra and Beijing contribute to a rapid fall in investor confidence. Advertisements Australian National University researchers found Chinese investment in Australia had fallen for the third consecutive year, dropping from $4.8bn to $2.5bn between 2018 and 2019. In the peak year of 2016, Chinese investors spent $15.8bn in Australia. Last year’s figure was propped up by the $1.5bn spent purchasing Tasmanian baby formula processor Bellamy’s. ANU’s Prof Peter Drysdale, who leads the Chinese investment in Australia (Chiia) database, a unique...