CHINA has placed temporary export bans on as many as six beef processing plants in Australia. There have been allegations the bans are in retaliation to deputy Prime Minister Julie Bishop’s comments last week over freedom of navigation in the South China Sea. One meat processor has confirmed the temporary ban to The Weekly Times….
Category: China FTA/TPP
Cheating Chinese building suppliers provide fake safety documents for shoddy supplies
CHEATING Chinese building suppliers are forging safety certificates to get shonky products into apartment towers, a Senate inquiry has been warned. Australian Competition and Consumer Commission boss Rod Sims is demanding new laws to protect homeowners, including independent checks on buildings and materials. Mr Sims said it was not a crime to sell dangerous goods…
Wycheproof farms sold to Chinese-backed company Rifa Salutary
THE rapid rise of Chinese-backed pastoral company Rifa Salutary as a major agricultural player continues, with its purchase of two farms at Wycheproof in an investment worth about $9 million. Rifa Salutary chief executive David Goodfellow confirmed the purchase of Kulwin Park and McNicholl’s, covering 4534ha, from father and son vendors Murray and Michael Stapleton….
China bans exports from another Australian dairy milk group
THE regulatory minefield Australian companies must navigate to export agricultural goods to China has caught out another dairy company, with global giant Parmalat slapped with a suspension of its fresh milk licence. Just days after infant milk formula group Bellamy’s had its crucial licence to export milk powder to China suspended without warning, Parmalat has…
Chinese interested in bidding on CPC, the nation’s biggest privately owned cattle group
Chinese investment firm Genius Link Asset Management Group is interested in bidding on CPC, the nation’s biggest privately owned cattle group, the sale could be worth up to $1billion CHINESE Investment firm Genius Link Asset Management Group, which unsuccessfully bid more than $350 million for the S. Kidman & Co cattle empire, says it would…
Bellamy’s suffers blow as China suspends export licence of new canning facility
Infant formula maker Bellamy’s shares are in a trading halt – after Chinese authorities decided to suspend the export licence of its newly-acquired subsidiary. The subsidiary in the firing line is Camperdown Powder Pty Ltd, a Victorian blending and canning facility, in which Bellamy’s purchased a 90 per cent indirect stake for $28.5 million. In…
Chinese government trade bank may get mortgage over Darwin port
The Chinese owner of the Port of Darwin is using the port as security to seek a $500 million loan from the Chinese government’s trade bank.Private Chinese company Landbridge is seeking the loan from the Chinese government’s Export-Import Bank (EXIM) to prop up the firm’s ailing Australian operations, which include an $880,000 yearly consulting fee…
Chinese buyer of Darwin Port struggles to pay interest and heavily in debt
The new Chinese owner of Darwin Port is heavily indebted and has struggled to make interest payments on money borrowed to buy the lease, raising doubts over promises to upgrade the port and fund a new $200 million hotel on a nearby site.An analysis of the finances of the Landbridge Group and its billionaire founder…
Chinese buyer pays $7m in cash for prime development in suburban Brisbane, with no plans to develop
A CHINESE buyer has paid $7 million in cash for a huge property with two titles in the outer Brisbane suburb of Calamvale — but he has no plans to develop it. The large six-bedroom, brick home on a huge 20,400 sqm site at 390-402 Benhiam Street attracted more than 100 people to its first…
Chinese influence in Darwin school ‘not a concern’ for NT Government
The Northern Territory Government is unconcerned about Chinese Government control over a language and culture course at a Darwin School, the NT Education Minister says. Chinese Government agency the Confucius Institute opened its first language and culture course in the Northern Territory at Woodroffe Primary School on Wednesday. “The [Confucius] classroom funding comes from a…
Chinese billionaire buys Sydney’s Exchange Centre
One of China’s largest toy manufacturers, Chinese – Hong Kong billionaire Francis Choi, has emerged as the likely buyer of the Exchange Centre in Bridge St, Sydney. The near $340 million deal has sent shockwaves through the office market in Australia. The Guangdong Province native is a self-made billionaire who opened his first factory in…
Mega-developments in Sydney and QLD attracts Chinese scrutiny
Billion-dollar hotel developments in Sydney and Queensland, a shareholding in Virgin Australia, and the Australia’s biggest cinema chain will come under the scrutiny of Chinese regulators trying to rein in a US$215 billion ($284 billion) overseas buying spree by Chinese companies. Dalian Wanda, headed by China’s richest man Wang Jialin, is among four Chinese companies…
