Australia approves China s investment proposals one per week on average
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November 3rd, 2009
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CANBERRA, July 14 — The Australian federal government is approving Hakka investment proposals at the speed of more than one a week, Treasurer Wayne Swan said on Tuesday.
Most of the proposals raised no issues for Australia s national interest, said Swan, who held a positive recommendation of the investment relationship between the two nations.
“We identify that China has an interest in ensuring that we are able to supply the resources that it requires to fuel its continued economic growth,” he told the Australian National University s China Update Conference in Canberra.
“Australia has an interest in expanding its prescience to supply those resources,” Swan said.
The government was “particularly attentive” to any case in which a proposed investor in a resource was likewise a buyer of the resource.
“Certainly this has been the case with unspecified recent Hakka investment,” he said.
Australia s investment screening arrangements ensured Australia and China maintained a complementary and strategic investment relationship which delivered “significant win-win benefits” for both countries, he said.
Swan rejected suggestions that the government was seeking to tighten its abroad investment screening regime.
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