Chinese Government buying up our farms, says Australian Senator Bill Heffernan

[spookyturtle 9,466]

THE Chinese Government is buying Australian farms to directly feed its population, a senior Liberal said on the eve of a visit by a top Bejing official.

The purchases were unmonitored and did not have to be approved by the Foreign Investment Review Board, Senator Bill Heffernan told Parliament.

"And the distortion that has occurred in the Sydney home market because of being off the FIRB's radar ... could happen with agricultural land," Senator Heffernan said.

He made the claim on Wednesday night, just three days before the arrival in Canberra of Chinese Vice-President Xi Jinping for what is considered an important visit.

Senator Heffernan, chairman of the select committee on agriculture, yesterday said farm buy-ups were not referred to the FIRB unless they were worth more than $320 million.

So far there were only anecdotal reports of Chinese agricultural investment but Senator Heffernan quoted research by Professor Zhangyue Zhou of the School of Business at Townsville's James Cook University.

Mr Zhou has argued there is a move by the Chinese Government to buy land overseas to ensure a secure food supply for the future. He believes the produce would be sent back to China from farms now being purchased.

There are reports of significant Chinese interest in Tasmanian dairy farms and a Tasmanian real estate agent, Betty Kay, this month was at a dairy expo in China to promote sales by cash-troubled farmers.

Last month South Australian state MP Robert Brokenshire called for Government action "as Chinese vultures circle Australian farms".

"Chinese investment interest in our farms grew 10-fold in the six months to April, according to the Real Estate Institute of Australia," he said.

There is also anecdotal evidence about farms in the black soil-rich Liverpool Plains being bought by foreigns interests at inflated prices.

However, a spokeswoman for the REIA yesterday said there were no figures available.

Senator Heffernan told Parliament there was a system of voluntary reporting of land investments backed by foreign governments.

"It should not be self-reporting; it should be compulsory reporting. A foreign entity could go down the river and buy every property and not trigger the interest of the Foreign Investment Review Board," he said.

http://www.news.com.au/national/chinese-government-buying-up-our-farms-says-senator-bill-heffe6frfkvr-1225881128107

[spookyturtle 9,466]

Anyone want to go fishing with me?

[mawilson 2,133]

So much for the wonderful regulatory system.

[IndigoSkies 168]

China and Middle East are buying up farming lands in greener middle part of Africa faster than anyone else is willing to admit. China is also heavily investing in African infrastructure to extra raw material for its booming economy. While Western loans and aids come with such frivolous things as human rights (sarcasm here,) Chinese aid and investment comes with basically no string attached. No meddling in internal affairs of the invested country. This makes these countries feel equal partner in the investment and more trusting of Chinese exploitation. But the money that China invests on countries like Angola has to be spend on Chinese workers, goods, processed materials.

[Heracles 417]

So let me get this straight, the Chinese could be buying land here [which is now dirt cheap] but they too prefer AUS.

How embarrassing for spook.

[Kevin and 10]

So let me get this straight, the Chinese could be buying land here [which is now dirt cheap] but they too prefer AUS.

How embarrassing for spook.

With the debt the .GOV owes the Chinese, China won't have to buy any land from the US. The .GOV can use Eminent Domain and give it to them.

[natty bumppo 297]

they may own the land ... can they legally export the produce?

just a thought .....

[spookyturtle 9,466]

So let me get this straight, the Chinese could be buying land here [which is now dirt cheap] but they too prefer AUS.

How embarrassing for spook.

I'm not embarrassed at all. You are because you come from a defenseless nation of fat a$$, selfish arrogant morons.