Chinese language funding in Australia falls 62% in 2020

Chinese investment in Australia falls 62% in 2020


Chinese investment in Australia plunged to just over 1 billion Australian dollars ($775 million) in 2020, down 62% from the previous year, according to a report released Monday by the Australian National University’s Chinese Investment in Australia Database.

That’s also down nearly 94% from a peak of 16.5 billion Australian dollars ($12.8 billion) in 2016, according to the study.

The countries are big economic partners in Asia Pacific. China, the world’s second biggest economy, was Australia’s largest trading partner in 2018, with trade between the two valued at 215 billion Australian dollars ($158 billion), according to official statistics. And some Australian exports, such as iron ore, remain vital to powering Chinese industry during the post-Covid 19 recovery.

Australia has been toughening its rules on foreign investment in recent years. That likely has contributed to the steep dropoff since 2016, when the country strengthened its ability to veto foreign ownership of major…