China-Australia relations: US$58.5 million Sydney property deal halted by ‘chilling effect’ on foreign investments

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A group of Chinese investors has withdrawn its bid to purchase a A$80 million (US$58.5 million) office tower in Sydney after the Australian Foreign Investment Review Board (FIRB) delayed approval of the deal for eight months.Analysts conceded that while the large backlog of foreign investment reviews since scrutiny was tightened in March likely played a role, the lack of any response suggested the Chinese curbs on a range of Australian imports also likely played a part.Whatever the motivation,…

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