中国增加在澳大利亚投资

China Increases Investment in Australia 中国增加在澳大利亚投资

From VOA Learning English, this is the Economics Report.

Chinese investment in Australia has moved to the real estate market and infrastructure¹. It is yet another sign that Australia’s once strong mining industry is weakening, as Chinese businesses look for new places to invest. 

For the first time, almost half of all Chinese investment in Australia is in real estate. Spending on roads, bridges and other infrastructure has also increased.

Private businesses from China are also investing more than state-owned enterprises.  

The findings are contained in a report called “Demystifying Chinese Investment in Australia.” It comes from accounting² company KPMG Australia, the University of Sydney Business School and the China Studies Center.

Hans Hendrischke is a professor of Chinese Business and Management at the University of Sydney Business School. He says the study provides examples of what he calls new patterns of interest.

“The most striking feature was the change in Chinese investment composition – that is the shift from big projects in the mining and resources area to this huge increase in real estate, and other industries where the Chinese traditionally had not been too strong, such as leisure and construction. They have bought one of the biggest cinema chains in Australia and one of the two biggest construction firms, John Holland.”

Australia’s mining industry was expanding a few years ago. Now, the rate of growth appears to be slowing. Chinese companies with money to spend have looked to real estate as a place to invest. However, Australia’s Foreign Investment Review Board must approve what properties the companies can buy.

Phil Harris is the managing director of Harris Real Estate in Adelaide. He says Chinese buyers are inflating³ prices in Australia's major cities.

“There is absolutely no question that it is having a dramatic effect on property prices in particular areas of both Melbourne and Sydney.  I have colleagues who own real estate offices in both of those marketplaces, and in some of those markets they are seeing 80 percent of all purchases – now even 100 percent of purchases in certain areas are going to Chinese buyers. There is no question it is having an effect on property prices.” 

Last year, the Chinese invested $8.3 billion in Australia. The combination of real estate, leisure serves and infrastructure projects made up 79 percent of new Chinese business in the country. That compares with just 11 percent for mining.

While real estate is the most popular investment, there is growing interest, too, in Australian agriculture. Andrew Forrest got rich from mining businesses. He says Chinese investment is helping⁴ to increase the productivity of farming.

“So far, Chinese investment into Australia - agriculture - has been well received and they're capable of being a strong and passive partner in projects of massive scale which our capital alone could not develop.”

The falling value of the Australian dollar has made investments in the country more appealing. Easing of Australian visa rules has also attracted investment.

Doug Ferguson is head of KPMG Australia’s Asia Business Group. He co-wrote the report on China’s investment in Australia. He says Chinese investment is good news.

“I think it is very important for our economy to be able to successfully move the structure away from mining, gas and power into sectors⁶ that have more, maybe, enduring long-term benefit to the broader economy, which I think real estate, which leisure and tourism and agri business (and) food offers, and that is exactly what is happening, so it is very good news.” 

China is the sixth largest foreign investor⁷ in Australia. The United States and Britain invest more, although Chinese spending is growing fastest.

The flow of money from China is a politically sensitive issue, especially purchases of real estate and farms. Last weekend, Australian nationalists demonstrated and burned flags near China’s diplomatic offices in Sydney. They were protesting what they described as a “foreign invasion.” 

Words in This Story

state-owned enterprises – n. Businesses controlled (through a majority ownership share) or fully⁵ owned by a government

real estate – n. property such as buildings and land

leisure – n. industries related to entertainment, recreation, tourism and sports; activities people do in their free time

patterns – n. a regular or repeated form or way something is done

scale – n. the level at which something is done relating to its size, number or frequency

purchase(s) – n. something that is bought; v. to buy something

1 infrastructure   

n.下部构造，下部组织，基础结构，基础设施

参考例句：

• We should step up the development of infrastructure for research.加强科学基础设施建设。
• We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。

2 accounting   

n.会计，会计学，借贷对照表

参考例句：

• A job fell vacant in the accounting department.财会部出现了一个空缺。
• There's an accounting error in this entry.这笔账目里有差错。

3 inflating   

v.使充气（于轮胎、气球等）( inflate的现在分词 )；（使）膨胀；（使）通货膨胀；物价上涨

参考例句：

• I felt myself inflating slowly with rage, like a tyre. 我感到自己体内的怒气正慢慢膨胀，像一只轮胎那样。 来自互联网
• Many are already overheating, with prices rising and asset bubbles inflating. 随着物价日益上涨、资产泡沫膨胀，很多新兴国家经济已经过热。 来自互联网

4 helping   

n.食物的一份&adj.帮助人的，辅助的

参考例句：

• The poor children regularly pony up for a second helping of my hamburger. 那些可怜的孩子们总是要求我把我的汉堡包再给他们一份。
• By doing this, they may at times be helping to restore competition. 这样一来, 他在某些时候,有助于竞争的加强。

5 fully   

adv.完全地，全部地，彻底地；充分地

参考例句：

• The doctor asked me to breathe in,then to breathe out fully.医生让我先吸气，然后全部呼出。
• They soon became fully integrated into the local community.他们很快就完全融入了当地人的圈子。

6 sectors   

n.部门( sector的名词复数 )；领域；防御地区；扇形

参考例句：

• Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
• Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》

7 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。