One of China’s billionaires has purchased the oldest continually settled cattle station in Australia’s northern territory and its neighboring property, collectively boasting a coastline of 80 km along the gulf of Carpentaria in a 47 million Australian dollar deal. The deal will give the billionaire control over 7,057 square km of land in the Northern Territory and Queensland, and add to his burgeoning property holdings in Australia…Full Article: Xinhua July 2015

Key Point

  • The purchase included 40,000 heads of cattle. Additionally, the Chinese buyer owns Ferngrove Wine Group, which is based in the Great Southern region, Western Australia.

ChinaAg Comments

  • In June 2015, China and Australia signed a free trade agreement that immediately dropped the tariff rate to zero for 85.4% of goods.
  • In November 2014, China and Australia signed a preliminary free trade deal.
  • In July 2014, a Chinese company purchased the Kununurra sugar mill in Kimberley, Western Australia.
  • In 2014, Australia exported approximately 70,000 dairy heifers to China.
  • In October 2013, China’s Zhejiang Province and Western Australia signed a Memorandum of Understanding on the trade of live cattle
  • In November 2012, Shanghai Zhongfu Group won the right to develop 13,400-hectares (US$728 million investment) of farmland in the Ord valley, East Kimberley region, Western Australia.

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