Australia has defended the recent blocking of two big Chinese investments in the country’s energy and agriculture sectors, warning that future bids by state-owned enterprises will face tough scrutiny.
Barnaby Joyce, deputy prime minister, said while the government would not automatically exclude bids for Australian assets by state-owned companies, it would be “a lot more cautious”.
“If our government was going to go out and start buying farmland, people would say ‘that is socialism, mate’,” he said. “So why do we think it is in another government’s interest to buy farmland? We believe in private enterprise, which means private individuals owning assets, not governments.”
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