Australia is China’s top foreign direct investment destination (Hong Kong aside). Yet, despite repeated official welcome messages, many Chinese investors and officials perceive that Canberra discriminates against Chinese investors, particularly those looking to invest in natural resources. The purpose of this paper is not to assess the veracity of Chinese claims of discrimination against Chinese investment into Australia but to understand better the reasons behind those perceptions and to identify policy-presentational issues and possible responses.
China’s negative perceptions largely flow from Australia’s foreign investment regime and the related failure of significant Chinese investment proposals in recent years. Moreover, the additional guidelines covering foreign investment applications from government related entities are perceived to be directed primarily at China. Such perceptions matter. China is our largest trading partner and an increasingly important source of global capital. Right now, we need China and China needs us. However, if China was to become less dependent on Australian resources and the perception of discrimination remain, the bilateral relationship could be tested more severely. Australia should rightly continue to assess foreign investment from a ‘national interest’ perspective. But, where Canberra believes that there are unwarranted perceptions of discrimination against China, additional steps should be taken to reduce misunderstandings. This includes a more proactive approach by Australia’s Foreign Investment Review Board in dealing with Chinese investors and officials.
Larum, Chinese Perspectives_web
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