Original article by Glenda Korporaal
The Australian – Page: 16 : 19-Apr-23

A report from KPMG and the University of Sydney shows that Chinese investment in Australia totalled $US1.4bn ($A2.08bn) in 2022. This was 143 per cent higher than in 2021, and the first increase in six years. Four large mining deals accounted for the bulk of the Chinese investment, headlined by Baowu Steel’s agreement to inject $1bn into Rio Tinto’s Western Range iron ore project in the Pilbara. Meanwhile, Chinese investors bought just $14m worth of Australian commercial real estate assets in 2022, down from $208m in 2021. Chinese investment in Australia peaked at $US16.2bn in 2008.

CORPORATES
KPMG AUSTRALIA PTY LTD, UNIVERSITY OF SYDNEY, RIO TINTO LIMITED – ASX RIO, CHINA BAOWU STEEL GROUP CORPORATION LIMITED