FTA Drives Greenland To Invest In Australian Agriculture

One of China’s largest property developers, Greenland Holding Group has announced its plans to delve into Australian agriculture just a day after the signing of the free trade agreement (FTA) by Australian and Chinese officials.

According to Australian export

statistics in the 2012-13 financial year, China is the one of the most important markets for Australian exports with a trade valued at $129.5 billion.

Tariffs for Australian imports into China will be cut on agricultural products including beef, dairy and wine, due to the free trade agreement.

Greenland group’s chairman, Zhang Yuliang said as china is the most populated country in the world, it has a very large market base and due to the economic development, consumption habits are changing.

Mr Zhang said that their next step will allow more imports to meet the Chinese markets demand for Australian products.

“I am very happy that this FTA is finally signed; it means that there will be great room for the future development of bilateral economic and trade,” he said.

“Our next step is to acquire such kinds of Australian companies and import more Australian products into China."Mr Zhang believes that such a large investment in Australian agriculture will be strongly welcomed by the Australian government.

Succeeding the signing of the free trade agreement, the group plans to expand its investment into Australian food processing and production, wine, beef, and further investments in Australian commercial, retail and hotel properties.

The Chinese developer is known in Australia for residential investment projects including the Greenland Centre, in Sydney’s CBD and their recent joint bid with Crown for the redevelopment of the Brisbane Queens Wharf Casino.

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