Greater China Beats U.K. as Biggest Farmland Owner in Australia
- Bahamas and Hong Kong lead gains in ownership of farm land
- Proportion of land held by foreigners holds steady at 13.4%
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Greater China now ranks as the top foreign owner of Australian agricultural land, overtaking the U.K., according to a government report.
The jump in Chinese-linked holdings comes via Hong Kong, with interests based there owning 1.3 million hectares as of June 30, an increase of more than fourfold in a year. China-only ownership was flat at 9.2 million hectares.