Mainlanders own .38% of Aussie farm
Chinese investors hold just 0.38 percent of Australia’s agricultural land, said Scott Morrison, Australia’s treasurer, on Wednesday, citing a report which he said should allay concern among Australian voters that the Asian nation is buying up farmland on a massive scale.
A total of 13.6 percent of agricultural land is held by international investors, with 52 percent of that owned by UK investors, Morrison said, citing the first report from the Agricultural Land Register. The US is the next biggest holder, followed by the Netherlands and Singapore with China fifth.
“China is still well down the list”
20,junioratNorthChina UniversityofTechnology growth from last year in China— and Pokemon Go, the locationbased AR game, became a global hit — the market had been expecting to see Apple spread its wings. of Rumorsforeign linked investors,to Apple’s Morrison future said VRin a strategySky News appeared television online interviewand drewtheon Wednesday. industry’s The attention informationas in CEOthe reportTim Cook “informs commentedthe qualityon the of decision-making (in the Australian government), it informs the quality of policy-making and it informs, hopefully, the quality of the debate,” he said.
The government ordered the creation of the Agricultural Land Register last year amid widespread concern that Chinese purchases of agricultural land had been increasing unchecked in Australia, the technologydeveloped world’s publicly, most which China-reliantwas interpreted economy. as a sign Apple was aboutA surveyto extend releasedinto theby the AR sector. Sydneybased But the think “OneMoretank Lowy Thing” Institute part forof the Internationalevent, described Policy as in Junethe company’s showed 87 percent traditional of disclosure respondentsof a trend were or against innovative allowing ideas foreignthat will companiesbe implementedto buy Australianin its farmland. products, was not Australiashown in also the tightenedend. scrutiny for selling farmland to Chinese, Japanese and South Korean buyers last year, by requiring purchases of land worth A$15 million ($13.3 million) and over to be screened for approval. Americans don’t need permission for similar deals under A$1.1 billion.
Morrison, who in April vetoed a Chinese-led group’s bid for the iconic S. Kidman & Co cattle ranches that People span tend1.3 to percentthink thatof the Apple country’s won’t land disclose mass, any said detailson Wednesdayuntil it’s fullythat Australiaready to do has so. the right to act in the national interest.
“There’s nothing wrong with Australia exercising its sovereign right to decide whether there can be agricultural land sold to foreign interests,” Morrison said.
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