China warns Australia to keep new foreign investment policy ‘fair and non-discriminatory’ to Chinese firms
- New foreign investment law will crystallise temporary reforms aimed at ‘safeguarding’ Australia’s pandemic-hit companies from being raided
- Australian media reported legal review was aimed at limiting Chinese investment, but Canberra has said it would be ‘country agnostic’
China’s Ministry of Commerce has warned Australia that its new foreign investment policy should be “fair and non-discriminatory” to all countries, amid speculation that it is aimed at restricting investment from China.
The comments, made at a press conference in Beijing on Thursday, came after the Australian government announced last week that it was moving ahead with sweeping changes to its Foreign Acquisitions and Takeovers Act for the first time since it was introduced 45 years ago.
The move would crystallise the temporary changes made in late-March, when Australia was in the throes of rising coronavirus infections, aimed at “safeguarding” Australia’s pandemic-hit companies from being raided. Australian media at the time reported that the legislative changes targeted Chinese investors.
“We hope the Australian government will adhere to an open and pragmatic investment policy, strengthen communication with foreign investors, maintain transparency, create a fair and non-discriminatory investment environment for foreign investors, and observe the legal rights of all foreign investments, including those from Chinese companies,” Ministry of Commerce spokesman Gao Feng told the weekly media briefing, when asked about the law.