Beijing: The Chinese government has officially put the brakes on Chinese companies pouring big money into overseas property development, issuing rules likely to have a significant impact in Australia.
China’s State Council, or cabinet, issued the first rules on overseas investment by Chinese companies on Friday.
A new banned list includes casinos and defence technology, while overseas property development and hotels are classified as “restricted”.
Chinese companies bought 38 per cent of all the residential property development sites sold in Australia last year, spending $2.4 billion, accordin…
Read the full article at: http://www.smh.com.au/business/new-investment-rules-to-curb-chinas-foreign-acquisition-binge-20170820-gy033p.html