Australia mulls looser rules for Chinese investment

Australia’s government is considering granting Chinese companies the same investment rights enjoyed by American companies, the Sydney Morning Herald reported. Under the terms requested by China, Chinese firms would be allowed to invest up to US$937 million at a time without needing approval from Australia’s Foreign Investment Review Board (FIRB). Currently, the FIRB must approve any Chinese investment of more than US$93 million. Australia is hoping the loosened requirements will boost free trade talks with China. China signed a free-trade agreement with New Zealand on April 7, the first such pact China has signed with a developed country.