China slams Australian Government for 'politicising trade' over decision to block Probuild sale to Chinese company
4 years, 2 months ago

China slams Australian Government for 'politicising trade' over decision to block Probuild sale to Chinese company

ABC  

China's government has slammed Australia's decision to block a Chinese company's $300 million bid for the Australian construction firm Probuild, accusing the Federal Government of further undermining trust between the two countries. Key points: China has accused the Australian Government of discriminating against Chinese companies Australia has not confirmed it blocked China State Construction Engineering Corporation's bid Last year, the US government listed the corporation as a Chinese military company Earlier this week, Probuild announced that state-owned China State Construction Engineering Corporation had withdrawn its offer after being told the Treasurer Josh Frydenberg would block the sale on national security grounds. China's Foreign Ministry spokesman Zhao Lijian fiercely criticised the move on Tuesday evening, accusing the Australian Government of discriminating against Chinese entities. The Australian Government introduced tough new foreign investment rules that came into force on January 1 this year, with regulators given greater powers to review and scrutinise investments that could have national security implications.

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