PHOTO: Since Australia’s prime minister Scott Morrison called for an inquiry into coronavirus in April 2020, China has banned several Australian exports
- Chinese spending in Aussie property projects fell $400million last year
- In 2019 Sino investment in projects worth $10million-plus was $1.3billion
- But in 2020 it had plunged to $920million, a mammoth $4.5billion off 2016 peak
Chinese investment in Australian property deals collapsed in 2020 while tensions between the two governments grew.
Sino investment in Australian commercial projects worth $10million-plus plunged to $920million in 2020 – down $400million from the year before – Real Capital Analytics told Daily Mail Australia.
The drop isn’t over yet either with Chinese state-owned and private investment in the same sector at a paltry $29million for the first three months of 2021.
While Canberra and Beijing engaged in a war of words, Chinese investment in Australian commercial property has fallen off a cliff
The $700million-plus luxury W Hotel at Darling Harbour is managed by Marriott and owned by the Chinese-backed Greaton Group
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