Australia to review lease of port to Chinese firm: Reports
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Last Updated: May 03, 2021, 12:22 PM IST
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Synopsis Advice has been sought on the port and that will go to national security committee in due time, a government source said. The source declined to be named as he is not authorised to talk to the media on the subject.
Reuters
Machinery can be seen sitting at the Port of Darwin, located in the Northern Territory s capital city of Darwin in Australia, April 21, 2017
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Australia is reviewing the 99-year lease of a commercial and military port in the country s north to a Chinese firm, a government source said on Monday, a move that could further inflame tensions between Beijing and Canberra.
Australia reviewing lease of Port Darwin to Chinese firm
published : 3 May 2021 at 15:00 The Chinese-owned Landbridge Group has a 99-year lease over the Port of Darwin, in the Northern Territory s capital city of Darwin, Australia. (Photo: Reuters)
SYDNEY: Australia is reviewing the 99-year lease of a commercial and military port in the country s north to a Chinese firm, a government source said on Monday, a move that could further inflame tensions between Beijing and Canberra.
Australia overhauled its foreign investment laws late last year, giving the government the retrospective power to impose new conditions or even force a divestment on deals that have already been approved.
Australia has revised China’s ownership of the port of Darwin in the face of security risks
The Australian Department of Defense is considering leaving a controversial lease to a Chinese company in the port of Darwin near a U.S. Navy base.
Washington has long been concerned 99-year lease, The Northern Territory government sold it to Landbridge in Shandong for $ 506 million in 2015.
After the news of the review severely damaged Australia-China ties, this pushed Canberra rip last week two Ring and Road Initiative agreements between the Chinese and Victorian state governments.
Australian Defense Minister Peter Dutton confirmed the rent review in an interview with the Sydney Morning Herald on Monday, saying he had asked his department to “come back to give some advice” to ensure the government could “explore options in our country”. interests ”.
Darwin review could be final blow to Chinese investment in Australia
The Morrison governmentâs review of the 99-year lease of the Port of Darwin will further inflame tensions with Beijing at a time when Chinese investors are already heading for the hills.
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Australiaâs decision to review the Port of Darwin lease could deliver a knockout blow to inbound Chinese investment, which has already slowed to a trickle due to bilateral tensions and a tighter rein on debt by Beijing.
âThe tap has not only been turned off. It has been well and truly dismantled,â one Shanghai-based lawyer advising Chinese companies on inbound Australia investment said on Monday.
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