Chinese investment in Australia grows 60% to $15bn

Chinese investment in Australia has grown 60% to $15bn as investors continue to buy real estate and expand into areas such as healthcare. The Guardian reported that investment in 2015 reached its second highest level, behind the peak year of 2008, with Chinese taking advantage of the lower Australian dollar. Investment in real estate continued to dominate, accounting for $6.85bn, or 45%, of total Chinese investment in Australia, according to the KPMG and Sydney University’s joint report, Demystifying Chinese Investment in Australia. Australia is the second most favoured foreign country for Chinese investors, after the US, where Chinese invested US$118bn in 2015 – up 14.7%.