China wants fair Australia investment rules

  • 04/09/2016
Chinese President Xi Jinping (AAP)
Chinese President Xi Jinping (AAP)

Chinese President Xi Jinping has told Prime Minister Malcolm Turnbull he hopes Australia continues to provide a fair, transparent and predictable policy environment for foreign investors.

The two were speaking on the sidelines of a G20 summit in the eastern Chinese city of Hangzhou on Sunday.

China was angered after Australia last month blocked the $10 billion sale of Ausgrid, the country's biggest energy grid, to Chinese bidders after they failed to overcome security concerns.

China "hopes the Australian side continues to dedicate itself to providing foreign investors a fair, transparent and predictable policy environment", China's Foreign Ministry cited Mr Xi as saying.

"This also accords with Australia's own interests."

The decision has caused a rift between Australia and its biggest trading partner.

China has accused Australia of bowing to protectionist sentiment in blocking the bid for Ausgrid, as well as an earlier one by a China-led consortium to buy cattle company Kidman & Co.

Australia, a staunch US ally, has also drawn criticism from China for running surveillance flights over disputed islands in the South China Sea, and supporting US freedom of navigation exercises there.

Mr Xi said China and Australia should respect each other's "choices in their development paths and each other's core interests and major interests", the foreign ministry added.

Reuters

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