China`s investment in Australia has declined for several years. (Image)
China`s investment in australia has continued to decline, and has fallen by nearly half in a year, and is now only australia`s fifth-largest source of overseas investment, while the u.s. has held on to the top.
According to the annual report of the Australian Investment Review Committee (FIRB), the total amount of Chinese investment approved in all walks of life in Australia fell from A $23.7 billion in fiscal year 2017-18 to A $13.1 billion in fiscal year 2018-19.
And the number and value of projects that China is applying for have fallen for four consecutive years.
According to FIRB, the decline in Chinese investment in Australia is due to China`s increased scrutiny of foreign direct investment and stricter capital controls.
Not only has China reduced investment in Australia, but this trend is also reflected globally. According to the World Economic Cooperation Organization (OECD), China`s overseas investment decreased by as much as 30% in fiscal year 2017-18.
Not only did the U.S. maintain its top spot in Australian investment last fiscal year, it increased from A $36.5 billion to A $58.2 billion.
The U.S. investment in Australia has soared, largely because Walt Disney Co.(Walt Disney Compan) bought Twentieth Century Fox (Twenty-First Century Fox Inc).
Canada is Australia`s second largest source of overseas investment, followed by Singapore, Japan and China.
Canada`s ranking has risen largely because of the increased value of transactions in business real estate 、 services and in mineral exploration and development.
Australia`s overseas investments increased by $67.9 billion to $231 billion in fiscal year 2018-19, according to FIRB data.
Notably, more than $2 billion in applications surged, from two in the previous year to 23 in the previous fiscal year.
Of the 9466 applications received by the authorities ,8724 were granted, only one was rejected and the rest is still under consideration.
Compared with the previous year, the number of approved applications decreased by 2421, in part because the application fee provisions introduced in 2015 forced real estate investors to submit applications only if they were confident of being approved.
Overseas investment in finance, insurance, manufacturing, electricity and gas, as well as in mineral exploration and development, declined, but investment in services grew strongly, making the sector the largest recipient of overseas investment at $76 billion. real estate 、 agriculture, forestry and fisheries also showed a small increase.
