The Australian "Sing Tao Daily" published an article saying that the Australian federal government is enacting new regulations to tighten controls on foreign investors who want to buy Australian agricultural land or power assets.
Article excerpts are as follows:
Australian Finance Minister Morrison said the Australian government is committed to ensuring that Australians have the priority to buy their own agricultural land. On February 1 local time, he issued a statement in Canberra: "We welcome foreign investors to invest in agricultural lands in Australia as long as they do not affect the national interests."
It is learned that the new regulations will require agricultural real estate agents, for more than 15 million Australian dollars worth of agricultural land, must be recommended to local investors. At least 30 days after the promotion in China, to find foreign investors. Foreign investors need to prove that agricultural land they are willing to buy has gone through a public sale process and has been advertised to potential Australian buyers for at least 30 days. The new rules will help Australians have the opportunity to participate in the bidding for local agricultural land.
The prospect of seeking local buyers for 30 days in the country for promotion will be the criterion for foreign investment review boards to approve whether to allow foreign investors to apply for a purchase. Morrison and Interior Minister Peter Dutton said in a separate statement: "The power supply and transportation infrastructure is an important state asset and a critical security facility that requires ownership of these assets control."
The Australian federal government wants to provide investors with clear rules to avoid unnecessary accidents in the sale of power assets by provincial governments or the private sector.