Chinese investment in Australia fell to its lowest level in a decade last year following the implementation of tougher rules on foreign investment and a sharp deterioration in diplomatic relations between the nations.
Chinese companies invested A$3.4bn in 2019, down 58 per cent from A$8.2bn a year earlier, with just 42 deals completed during the 12 months to the end of December, according to a joint report by KPMG and the University of Sydney.
A single deal, Mengniu Dairy Company’s purchase of Bellamy’s for A$1.5bn, accounted for almost half of total investment in 2019.
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