Learn Mandarin online - Australia's FDI from China's mainland, HK up 196%?in 5 years

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BIZCHINA / Overseas Investment

Australia's FDI from China's mainland, HK up 196%?in 5 years

(Xinhua)
Updated: 2007-09-06 17:35

Foreign direct investment (FDI) from China's mainland and Hong Kong to
Australia has increased 196 percent over the past five years, an
Australian government agency said Thursday.

In 2006, FDI from China's mainland and Hong Kong accounted for 4 percent
of the total stock of all FDI in Australia from the Asia- Pacific
Economic Cooperation (APEC) member economies, Invest Australia, the
Australian government's inbound investment agency, said in a press
release here.

The United States is Australia's major source of investment from APEC,
with a 57 percent share last year, followed by Japan (18 percent) and New
Zealand (6 percent).

Australia's total FDI from APEC economies jumped by 7.3 percent during
2006 to reach 130 billion Australian dollars (US$106.6 billion),
representing the ever-strengthening links between Australia and the rest
of the Asia-Pacific Region, the release said.

Invest Australia CEO Barry Jones said that foreign investment plays an
important role in Australia's economic success and that the country is
very welcoming of investment from overseas.

Australia's outbound FDI to China's mainland and Hong Kong also took up 4
percent of the country's total outward FDI within APEC in 2006, according
to the release.

The United States was the principal destination for Australia's outward
FDI within APEC, accounting for 60 percent of Australia's FDI stock to
APEC members, followed by New Zealand (21 percent), Singapore (2.3
percent), and Papua New Guinea (1.4 percent).

APEC is the premier forum for facilitating economic growth, cooperation,
trade and investment in the Asia-Pacific region.

Founded in 1989, it represents the most economically dynamic region in
the world, with its 21 member economies spanning four continents and
accounting for approximately 40 percent of the world's population, 56
percent of world GDP and 48 percent of world trade.

(For more biz stories, please visit Industry Updates)

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