China Became Australia’s Largest Foreign Investor

Well-known Chinese news site Sina recently reported that, last year, China surpassed the United States to become Australia’s largest foreign investor. The investments, however, were concentrated mainly in real estate. As the Chinese anti-corruption movement deepened, Chinese investments in Australia also sped up. According to the latest report that the Australian Foreign Investment Review Bureau (FIRB) released, half of the approved Chinese investments last year (around US$22.1 billion) were for real estate. Chinese investments took a 17 percent share of all foreign investments in Australia. Australian real estate market experts expressed the belief that the demand of the investors from China and other Asian countries is still on the rise. If the Australian dollar depreciates more, Australian real estate will become even more attractive to Chinese buyers.