China-Australia relations: Beijing slams Canberra for ‘politicising’ canned US$230 million deal on national security grounds Su-Lin Tan State-owned China State Construction Engineering Corporation has withdrawn its offer to buy Australian builder Probuild in a deal reported to be valued at A$300 million (US$231 million). Photo: AFP
State-owned China State Construction Engineering Corporation has dropped its bid for the Australian builder of the tallest residential tower in Sydney, Probuild, after indications that Australian Treasurer Josh Frydenberg would block the deal on national security grounds.
This did not escape Beijing s attention, and on Tuesday China s Ministry of Foreign Affairs cautioned Canberra not to politicise business deals and jeopardise long-standing commercial relationships, as well as agreed-upon free trade between the two countries.