Beijing removed the last remaining restrictions on imports of Australian beef on Friday [24 March 2017] and announced early-stage plans for joint development of major mine, rail and port projects, in contrast to a growing global trend of trade protectionism…Full Article: South China Morning Post Mar 2017
- As a result of the agreement, all licensed Australian beef exporters can export chilled beef to the Chinese market. Previously, only 11 Australian suppliers could export chilled beef.
- In January 2024, China’s import tariffs for Australian beef (both chilled and frozen) will drop to zero.
- In December 2016, Australia’s Treasurer approved the sale of S Kidman & Co Ltd (Kidman) to Gina Rinehart’s Hancock Prospecting (mining consortium) and Shanghai CRED Real Estate Stock (Shanghai municipal government). Australian Outback Beef (AOB), a joint venture between Australia’s Hancock Prospecting (67% control) and China’s Shanghai CRED (33% control), was projected to pay approximately US$295 million for S. Kidman and Co. It should be noted Shanghai Zenith, the Australian branch of Shanghai CRED Real Estate Stock, owns Mount Elizabeth Station (200,000 ha) and Yakka Munga Station (189,000), Western Australia.
- In March 2016, Australia’s Foreign Investment Review Board (FIRB) approved the acquisition of Carlton Hill station by Kimberley Agricultural Investment (KAI). As a result of the purchase, KAI (aka Shanghai Zhongfu Group) may invest in a sugar/biofuel mill, cotton gin, cattle abattoir and grain grading facility near Kununurra, Western Australia.
- In December 2015, China-Australia Free Trade Agreement (ChAFTA) came into force.
- In July 2015, Tianma Bearing Group (SHE:002122) bought (via its Australia branch TBG Agri Holding Limited, founded in August 2014) the stations of Wollogorang and Wentworth, Northern Territory and Queensland. The company also owns the Western Australia cattle stations of Balfour Downs, Emu Downs and Wandanya, as well as Ferngrove Wines.
- In June 2015, China and Australia signed a free trade agreement.
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