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World

China Has Become The Largest Foreign Investor In Australia

BEIJING – China has become the largest foreign investor in Australia for the first time in the history after surpassing United States.

According to the official sources, the Asian economic giant has left United States far away in its competition of Investment in Australia.

According to Foreign Investment Review Board (FIRB) United States invested US$ 21.8 Billion in Australia this year which was over ruled by China with US$ 27.7 Billion and crushed the US standing of largest investor in China for more than a Decade.

The Chinese Surge is taken into the Investment in Property primarily.

China is already a trading partner of Australia, with the nation’s key mining sector dependent on its Asian neighbor’s demand for resources.

According to the report of FIRB, China is the largest investor in the Australian soil with US is at second position in investment which is then followed by Canada who is at third spot.

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