Albanese resists Chinese pressure over foreign investment
Make us a preferred source
Make us a preferred source on Google
The news: Prime Minister Anthony Albanese says Australia will treat Chinese investment on a “case-by-case basis”, as Beijing pushes for Canberra to loosen foreign investment laws.
The context: Albanese is in Beijing for his second official visit as prime minister, and was granted a rare extended lunch with Chinese President Xi Jinping on Tuesday.
Albanese’s election pledge to end Chinese ownership of the Port of Darwin, citing national security concerns, has caused consternation in Beijing.
While celebrating a “turnaround” in the bilateral relationship under Albanese, Chinese state media described the sale as an “issue to be dealt with” during Albanese’s trip. Premier Li Qiang urged Australia to treat Chinese companies “fairly” as direct foreign investment slows.
The prime minister insisted on Wednesday that his position had not changed, with any foreign investment treated on a “case-by-case basis”.
“It is viewed not on the basis of any one country, but on the basis of an objective assessment of our national interest,” he told reporters after a visit to the Great Wall of China.
Beijing has argued that Australia’s Foreign Investment Review Board is an unreasonable impediment to Chinese investment in Australia.
On Tuesday, Li appeared to reference the issue at a roundtable with senior Australian business leaders.
“I trust that Australia will also treat Chinese enterprises fairly and also properly resolve the issues [of] market access and review,” he said.
Australia is also wary of Beijing’s overtures on artificial intelligence, which China wants folded into the next round of a bilateral free trade agreement.
Chinese state media further referred to “interference from third parties” – a thinly-veiled reference to the United States – as a hindrance to the relationship.
Asked about the AUKUS deal, which has angered Beijing, Albanese insisted he made “no apologies for investing in our capabilities”.
What they said: “China has a different political system from us … What's important is that we're able to talk about those differences, to talk about them wisely and to acknowledge that they're there, but to not allow those differences to define us,” Albanese said.
The sources: Anthony Albanese press conference, The Global Times, The Australian
