China‘s state-owned companies may be deterred from investing in Australia because they are being treated unfairly, a Chinese business leader says.
Chairman of the China Chamber of Commerce in Australia, Hu Shanjun, said Australia was still a popular place for Chinese groups to invest, but that could change.
Mr Hu, who also heads the Bank of China in Australia, said the Australian government remained suspicious of Chinese companies, especially state-owned enterprises, and it showed in their policies.
“Some new policies we think they are not very fair for Chinese investors,” Mr Hu said.
“They have certain limitations, especially for government-owned companies.”
“I think it is a bit unfair and also hurts Chinese investors’ feelings,” said Mr Hu, who spoke to AAP outside the Australia China Minerals Investment Summit in Darwin on Tuesday.
One example was that Chinese government-owned businesses had to seek approval even to rent an apartment, whereas other groups didn’t need to, Mr Hu said.
“If the Australian government has limitations and has restrictions, we will go to other countries to look for opportunities,” he said.
He said there were options for mining companies wanting to invest their money, noting major commodities such as iron ore, coal and copper could also be found in South Africa or Latin America.
The China Chamber of Commerce in Australia represents about 220 Chinese businesses who invest in Australia, including many state-owned companies.Source: The Australian – Chinese companies ‘treated unfairly’
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Best news ever,politicians please read all the comments by concerned and frustrated australians on “stop foreign ownership in australia” and you’ll see how much we care about chinese investment going elsewhere. We are worried about food reliability, utilities such as electricity and ports, and natural resources being handed over to foreigners.