Chinese companies baulk at increased scrutiny

January 18, 2019

Chinese investors, private companies and deal makers say the Foreign Investment Review Board's decision to increase the level of screening of Chinese companies investing in Australia was unnecessary and a backflip on the promises made in the China-Australia Foreign Trade Agreement (FTA).

South Australia's Conservative Party Senate candidate Rikki Lambert says the bleating seems somewhat hypocritical given the hard time Australian importers are given at Chinese ports.

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The Australian Financial Review reports, Chinese groups who have either done or are yet to do business in Australia have been angered by the move and warned that not only would Chinese investors leave Australia altogether but it would break down the China-Australia trade relationship which Prime Minister Scott Morrison appeared to be repairing.

Yesterday, the same publication revealed that Australia's foreign investment regulator no longer believed private companies in China were free of Communist Party control, and planned on subjecting Chinese takeovers and deals to more screening on national security grounds.

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Royal Commission on China needed

Revelations on the ABC's 4 Corners program show there are serious questions to be answered about the Chinese Community Party's influence in Australian politics. We cannot trust major parties to review their own conduct. We...

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