Chinese investment in Australian farms increased tenfold in the past six months, real estate agents said, as the Australian government relaxed rules governing residential property purchasing and buyers saw opportunities in agriculture.
The interest in farms mirrors a trend in China’s demand for minerals that helped the Australian economy avoid recession during the global financial crisis.
China is Australia’s largest trading partner, buying AUD83 billion (USD77.17 billion) worth of goods and services from the world’s biggest exporter of coal and iron ore in the year ended last 30 June. Chinese investment in Australian resources has soared as demand rises in the world’s fastest growing major economy.
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(Source: scmp.com)