Australia PM Albanese at Great Wall defends foreign investment screening

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Australia PM Albanese, at Great Wall, defends foreign investment screening

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Australian Prime Minister Anthony Albanese visited the Great Wall of China on July 16, the fifth day of his China visit.

PHOTO: EPA

China

SYDNEY - Australias Prime Minister Anthony Albanese said on July 16 his governments screening of foreign investment was not country-specific, after Chinese Premier Li Qiang raised problems faced by Chinese companies seeking access to Australia.

On the fifth day of a China visit where the Australian leader is balancing trade and security, Mr Albanese visited the Great Wall to draw a comparison with former prime minister Gough Whitlam who walked the wall in 1971, opening dialogue with communist China before Australias ally the United States had done so.

Foreign investment is viewed not on the basis of any one country but on the basis of an objective assessment of our national interest, he told reporters during the visit on July 16.

At a roundtable of Chinese and Australian company executives on July 15 evening, Mr Li had said he hoped Australia would solve the problems encountered by enterprises in terms of market access and investment review, a readout of the meeting by Chinese state media outlet Xinhua showed.

Australia has blocked some Chinese investments in critical minerals, and company executives have told Reuters that security screening of renewable energy and key infrastructure has also stepped up.

Australia supplies around half of the worlds lithium as well as other minerals including rare earths used in batteries for electric cars and defence, and is seeking to boost trade with the US amid a global push to diversify

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