Deals
Australia to Toughen Foreign Investment Laws Amid China Spat
- New laws could have implications on relationship with Beijing
- U.S. is Australia’s largest source of investment from overseas
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Australia will implement a tough new screening regime on foreign investors seeking to buy sensitive assets, as it bids to bolster national security amid a diplomatic row with China.
Telecommunications, energy, technology and defense-manufacturing companies will be included in the zero-dollar threshold for screening. The changes, intended to be legislated this year and enforced from Jan. 1, will include a new national security test and give the treasurer last-resort powers to force asset sales.