Harold Mitchell cattle station $70m deal sold to wealthy Chinese businessman.

Media man Harold Mitchell has sold his burgeoning cattle station empire in Australia’s Kimberley region in Western Australia for more than $70 million. The sale, which includes APN Outdoor chairman Doug Flynn’s stake as well, is understood to have been acquired by a wealthy Chinese businessman. In 2015 Mr Mitchell appointed KPMG and ANZ to…

US-China deal threatens Australian beef and gas

A trade deal between the US and China announced on Friday will help ease diplomatic tension between the two superpowers but it could pose some problems for Australian gas and beef exporters. The White House announced a 10-point agreement on Friday which will allow the US to start exporting LNG and beef to China and…

Murray Goulburn hit by China customs crackdown 

Back in 2016 – While China starts to limit products that are brought into China from Australia, our government continues on unabated at selling Australia off to the Chinese.  The FTA allows imports from China freely into our market… But we are limited on what we can export to their country ? Who signed the…

Foreign investment jumps 29 per cent to $248 billion last year

Victoria has emerged as the focus for overseas buyers of Australian homes, attracting 44 per cent of residential purchases by foreign investors last financial year. NSW, with 32 per cent of residential home purchases, was the second most popular state for an inflow of foreign property investment, according to the Foreign Investment Review Board’s 2015-16…

China’s growing appetite for protein drives beef boom

The mining boom may be over but Australia’s beef cattle bonanza appears to be continuing ­unabated. Almost daily, there is news of wealthy Chinese investors snapping up vast northern cattle stations for multi-million-dollar sums. The Foreign Investment Review Board is believed to have approved on Monday a newcomer’s bid to buy a $100 million cattle…

Chinese buying big in Australian agribusiness

CHINA’S investment in Australian agribusiness has tripled in just one year as China strives to meet rising demand for high-quality food among its growing middle class. In 2016, Chinese companies invested $1.2 billion in Australian agribusiness, three times the investment of $375 million in 2015, shows a report form financial services provider KPMG and the…

Fonterra faces potential bill of $64m to Aussie farmers

Fonterra could owe its Australian farmers $64 million because of a milk supply contract it signed in 2012. If it does not pay up voluntarily, a class action is waiting in the wings to force the issue in the courts. The dairy giant’s Australian chief executive Rene Dedoncker met directors of its farmer milk supplier…

What Chinese are buying in Australia

THE Chinese continue to pour money into Australian businesses, infrastructure, resources and real estate to the tune of $15.36 billion in 2016. The figure is the highest it’s been since 2008 when Chinese direct investment reached its peak of $21.6 billion, according to a report from KPMG and the University of Sydney. Commercial real estate…

Chinese to build new $1bn City between Brisbane and the Gold Coast

Chinese hands have snatched up sprawling sugar cane fields on the northern tip of Queensland’s Gold Coast with the intentions of turning the rural landscape into a new city.Songcheng Performance Development, owned by a Chinese theme park entrepreneur, is the company striking a deal to develop the Norwell Valley, which is located smack bang between…

Property sector recruits Chinese real estate agents on 457 visas

More than one Chinese real estate agent was brought to Australia on a 457 visa every week during 2016 to allow businesses to take advantage of the offshore investment boom. The 2016 figures for the 457 program released this week show there were slightly fewer workers in Australia on the controversial temporary visa at the…