A CHINESE dairy juggernaut is courting Australia’s biggest milk processor, Murray Goulburn Cooperative, lobbing a buyout offer for the group, sources say. Yili, which makes milk products for the Chinese market, is rumoured to the be in the box seat for the struggling Melbourne-based cooperative after tabling a substantial offer. Confirming last month that it…
Category: China FTA/TPP
CBA has sold its CommInsure life business to a China-owned group for $3.8 billion.
The Commonwealth Bank has sold its troubled insurance business CommInsure Life to a Hong Kong-listed group Chinese-owned for $3.8 billion. The deal with AIA Group also covers the sale of the CBA’s New Zealand life insurance arm Sovereign. The sale of CommInsure Life follows a scandal where the insurer was accused of using outdated medical…
Murray Goulburn: China’s Fuyang Farming weighs MG bid
INNER Mongolia Fuyang Farming is believed to be the latest Chinese party weighing a bid for embattled milk producer Murray Goulburn, joining other such as the listed a2 in the contest. Another company understood to be interested is China Resources, which already owns a stake in the company, The Australian reports. Speculation emerged almost two…
Chinese students turn on Aussie professors
Tensions rise as Chinese government’s influence infiltrates Aussie universities AUSTRALIAN educators are increasingly coming under attack from Chinese students, raising concerns their government’s influence is permeating our universities. The students have been openly complaining about Western teaching methods and ideas, and publicly demanding apologies or changes to how subjects are explored. The trend has raised…
Chinese operator buys up Aussie hospitals
Chinese owned Healthe Care has boosted its portfolio of Australian hospitals to 21 after doing a $53 million deal for three hospitals in the Illawarra region of NSW. Chinese owned private hospital operator Healthe Care has bought three NSW hospitals for $53 million while it continues to negotiate a takeover of another health care operator….
Chinese buy 51pc in Bindaree Beef, Australia’s fourth largest beef processor
Expansion plans are on the horizon again for Bindaree Beef after Hong Kong’s wealthy Hui family this week bought a 51 per cent stake in the northern NSW group in partnership with Beijing-based equity fund, Archstone Investment. The McDonald family’s Bindaree Beef Group (BBG) is Australia’s fourth largest beef processor, which owns the Inverell abattoir…
Chinese buy 51pc in Bindaree Beef, Australia’s fourth largest beef processor,
Expansion plans are on the horizon again for Bindaree Beef after Hong Kong’s wealthy Hui family this week bought a 51 per cent stake in the northern NSW group in partnership with Beijing-based equity fund, Archstone Investment. The McDonald family’s Bindaree Beef Group (BBG) is Australia’s fourth largest beef processor, which owns the Inverell abattoir…
House prices face China exodus risk, says former top US Federal Reserve Economist
Soaring house prices are vulnerable to a sharp downturn that would damage the local economy if Chinese buyers retreat from residential property in Australia, a former top US Federal Reserve official has warned.Nellie Liang, who recently visited Sydney and shared her thoughts on financial stability research with the Reserve Bank of Australia, told The Australian Financial Review policymakers…
Lethal asbestos pouring through our borders made in China
BUILDING materials laced with lethal asbestos are landing in our homes and building sites, as Chinese companies flout Australia’s ban.Australian Border Force identified a staggering 8643 shipments as “high risk” for asbestos during 2016-17, but only examined 761 — leaving 90 per cent to slip through to building sites, hardware stores and supermarkets. It seized 64…
One Belt One Road: NT businesses welcome Chinese investment despite reluctance over ‘new Silk Road’
Northern Territory businesses looking to grow in a slowing economy are turning to one of the biggest economic and geopolitical expansions the world has seen in modern times.China's One Belt One Road is a bold, trillion-dollar plan to rework the global economic order on Beijing's terms, building huge infrastructure projects along a path based on…
Tests find white spot disease DNA in supermarket seafood products
A Queensland academic is warning that lifting a ban on the importation of green prawns into Australia is "fraught with danger" and like "playing with fire". On Wednesday Dr Knibb presented the results of the USC Aquaculture Genetics Research Group testing to the Australian Prawn Farmers symposium on the Gold Coast, telling delegates the affected…
Aussies accepting farm sales to China claimed Australia-China Relations Institute
Australians are not as opposed to Chinese investors buying local farms and agricultural assets as often claimed, the Australia-China Relations Institute said. Institute deputy director James Laurenceson said a survey by the group showed the Australian public was more nuanced and sophisticated about the benefits and disadvantages of greater foreign investment in agriculture by Chinese…
