Money

Chinese not buying up all farms: MP

MP Alex Somlyay
MP Alex Somlyay

MISINFORMATION posing as fact on the internet was responsible for much community fear about the foreign purchase of Australian farms, Fairfax MP Alex Somlyay said yesterday.

He said there was a very real fear in some quarters that Australia was being taken over by Chinese, a position that could not be sustained by the facts.

"If something goes on the internet everyone believes it,'' Mr Somlyay said.

"People need to take with a grain of salt what is written in some emails and get the facts.''

A Lowy Institute survey has found that 46% of Australians believed that too much foreign investment happening in Australia.

When questioned about Chinese investment, 56% felt there was too much.

Statistical data, however, shows China only 13th in terms of investment dollars here in the past 12 months, well behind that from the UK, US and Japan.

The Coalition has called for community input into its policy discussion paper on foreign investment in agricultural land and agribusiness.

Topics:  alex somlyay business china farming investment



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