Advertisement
China-Australia trade: Uptick in Chinese investments Down Under but US, Singapore funds piling in too
- ‘The last couple years have taught us that Australia-China trade is less affected by political tension than perhaps previously realised,’ says analyst
- The US has the highest number of investment approvals, with Singapore in second place, and China coming in fourth
Reading Time:3 minutes
Why you can trust SCMP
3
Chinese investments in Australia have risen slightly despite a years-long slowdown and deteriorating bilateral relations between the two countries, while yearly approvals of US investments Down Under continue to rise, nearly doubling from five years ago, new data shows.
In 2020/21, the US had the highest number of investment approvals by Canberra, a position once occupied by China.
Singapore has quietly overtaken China in securing investment approvals in Australia and was in second place – with A$21.3 billion approved – with China in fourth place.
Nearly A$14 billion of that figure from Singapore was for property, reflecting “significant growth in the value of proposed investment for Singaporean investors in the real estate sector”, the Australian Foreign Investment Review Board said.
The Board’s data shows Canberra approved A$13.6 billion (US$10 billion) in investments from China in the financial year ending June 2021, a slight uptick from A$12.8 billion the previous year.
Advertisement