http://www.theaustralian.com.au/business
An analysis by The Weekend Australian found that Chinese interests bought $5.4 billion worth of Australian-owned mining and energy assets during the 2013 financial year, eclipsing Japan and Canada as the most active foreign investor in the sector.
While overall foreign acquisitions in Australia’s mining and oil and gas industries halved during the year, reflecting steep falls in both commodity prices and resource stocks, China’s investments in the mining sector held steady from 2012 levels.
The ongoing corporate activity challenges the notion that Chinese companies feel unwelcome when investing in Australia, following controversies over mining deals in recent years such as the blocked Chinese acquisition of OZ Minerals’ Prominent Hill mine and Chinalco’s failed deal to buy into Rio Tinto’s West Australian iron ore operations.
Comments during the week by Kevin Rudd, in which he said he was anxious about an “open-slather approach” to foreign investment, have reignited concerns about perceptions of hostility from Australia towards Chinese investment.
While the Prime Minister’s comments did not refer to China, they have been criticised by industry groups as “borderline xenophobic” and as likely to send a negative message to Chinese investors.