BRI opens new path for global economy and living standard By Zhong Nan | chinadaily.com.cn | Updated: 2021-03-07 11:38 Share
Zhou Yong, a member of the 13th National Committee of the Chinese People s Political Consultative Conference, gives an interview via video link ahead of the second plenary meeting of the fourth session of the 13th CPPCC National Committee at the Great Hall of the People in Beijing, March 7, 2021. [Photo/Xinhua]
The Belt and Road Initiative has enriched the growth of the world economy and improved people s living standard in economies participating involved in the initiative, said a member of the 13th National Committee of the Chinese People s Political Consultative Conference.
The events might come from a Hollywood script. School bully (China), annoyed over being left out of games (lucrative overseas contracts) and about comments passed in the schoolyard, decides to make an example of the weedy kid in the corner (Australia) in front of the other schoolkids.
But after flailing the weedy kid with trade restrictions the gigantic bully unexpectedly reels back with a bloody nose.
Meanwhile, the other kids in the schoolyard (the rest of the world) who have previously paid little attention to the weedy kid as a remote, uninteresting teacher’s pet with few internal problems, express quiet sympathy for Australia.
Labor MP Ed Husic says the federal government – when engaging with China – must make sure it is open and transparent about the way in which decisions in the national interest will be carried out.
His comments come after China accused Australia of weaponizing national security after Treasurer Josh Frydenberg blocked the sale of Australia-based company Probuild to state-owned China State Construction Engineering Corporation.
“We have flagged for some time that as a nation we’ll be taking a closer look at foreign investment proposals,” Mr Husic told Sky News.
“That has been on the books for a while, and it’s got to be managed carefully.”
Mr Husic said the “whole thing” overall in relation to Australia’s relationship with China is the government needs to ensure the moves it makes are “quite open and transparent”.
“Otherwise we’ve obviously provoked the type of reactions that we get,” he said.
“Having said that, we are a sovereign nation entitled to m
China-blocked Probuild to take over two Grocon projects
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Tier-one builder Probuild, the target of a $300 million takeover offer from a major Chinese construction company that was blocked by the Treasurer this week, snapped up two major projects from the collapsed Grocon group.
Grocon administrators KordaMentha said on Wednesday, after taking charge of three more failed Grocon entities, that they had signed a heads of agreement with Probuild to take over construction of Grocon s $116 million Northumberland office project in inner Melbourne.
Probuild will take over the Northumberland office project from Grocon.
Simon Schluter
The Collingwood project is being funded by the Liberman family-backed Impact Investment Group, which is due to acquire the significantly delayed and over-budget project on completion for one of its funds.
Buyer reported to be China State Construction Engineering Corp Would be 2nd move to clock Chinese buyouts since 2020 (Recasts on reported Chinese buyer, writes through)
SYDNEY, Jan 12 (Reuters) - Australia blocked a Chinese construction company from buying out a domestic builder involved in several high-profile projects, citing national security concerns, local media reported, a sign that tensions between the trading partners remain elevated.
The majority owner of Probuild, South Africa’s Wilson Bayly Holmes-Ovcon Ltd (WBHO), said in a Johannesburg stock market filing late Monday that “a major international construction and civil services company” pulled its offer after learning Australia’s foreign takeover regulator would reject it “on the grounds of national security”.