Tuesday, June 10, 2008

China's Investment in Australia May Top A$30 Billion This Year

China, the world's fastest growing major economy, may invest more than A$30 billion ($28.5 billion) in Australia in fiscal 2008, Treasurer Wayne Swan said today.

That compares to around A$10 billion approved in both 2005- 06 and 2006-07, Swan said in notes prepared for a speech today.

"Since we came to office, Chinese investment proposals have been approved at a rate of around one per fortnight,'' he said.

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