Foreign ownershipWell, how much longer do we have to cop this rubbish?I see Han Xiaoping, the boss of China’s largest independent energy consultancy, has complained about Australia’s foreign ownership regimeMr Han said Chinese firms wanted to invest in Australian gas projects but were concerned about sovereign risk and were increasingly distrustful of Australia“Many people in the industry don’t believe Australia is a stable supply partner” he said“It is a partner that wants to hold all the aces and it does not treat China in a friendly manner”Mr Han’s comments echo earlier comments by China’s richest man, Zong Qing Hou“The media always reacts to Chinese investment but there is no reaction at all to American investment” Mr Zong complained last monthThese blokes can’t be seriousSince 2007 Chinese companies have made 350 applications to invest in Australia, none of which have been rejectedAnd anyway how often does Chinese “investment” turn out to be “ownership”?China didn’t invest in Cubbie Station and any number of other agricultural properties – it bought themAs for Australia holding all the aces – are foreigners allowed to own agricultural land in China or to own a stake in mining, steelmaking or telecommunications in China? NoJulia Gillard will begin a 5 day visit to China tomorrowAnd she should be telling her hosts Australia will be strengthening its foreign ownership rules rather than being blindsided by nonsense criticism

The Alan Jones Breakfast show: Highlights

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