Chinese Investments in Australia Plummet

Chinese investments in Australia reached the lowest decrease having more than 61% drop in 2020, according to Australian National University (ANU) on Sunday.

Chinese Investment in Australia Database (CHIIA) figures showed that the drop followed a 47 percent fall in 2019.

Director of the East Asian Bureau of Economic Research Shiro Armstrong said, “it reflects the effects of COVID but also more scrutiny of foreign investment by the Australian government, particularly that from China.”

He also said in a statement that foreign direct investment fell globally by 42% according to the United Nations (UN).

“UN data is measured differently, but the fall in Chinese investment to Australia was much larger,” he added.

Only over one billion Australian dollars of investment in 2021, down from 2.6 billion in 2019.

About 20 Chinese investments were recorded, compared with 111 in 2016.

In a report from Xinhuanet, Armstrong said that the drop could last “as long as it takes for certainty and openness to return to Australia’s investment screening regime.”

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