Fed: Australians wary of Chinese investment in miners - survey

AAP General News (Australia)
04-06-2009
Fed: Australians wary of Chinese investment in miners - survey

By Sandra O'Malley, Diplomatic Correspondent

CANBERRA, April 6 AAP - The public remains overwhelmingly wary of Chinese investment
in Australian miners, believing the national interest is better served by them staying
in local hands, a survey shows.

There's been growing disquiet over China's attempts to take advantage of bargain basement
prices for Australia resource companies, such as state-owned Chinalco's grab for a greater
share of Rio Tinto.

A survey by Essential Research, released Monday, found 57 per cent of people thought
Chinese investment in Australian mining companies should be resisted because the nation's
interests were better served by the miners being Australian-owned.

One in four thought the investment should be welcomed because it helps the economy
and provides jobs.

Older Australians, those over 50 years of age, were most likely to think Chinese investment
should be resisted, with 72 per cent believing Australian ownership was preferable.

The survey found the community had mixed feelings about whether Australia should be
getting closer to China.

Just over one in five, or 22 per cent, wanted Australia to have a closer relationship
with China, while the same wanted it to be less close.

Some 43 per cent thought the relationship was suitable as is.

Prime Minister Kevin Rudd has been criticised for being too close to China, with the
opposition accusing him of spruiking for Beijing during his overseas travels.

Two-thirds of people surveyed approved of how the prime minister was prosecuting the
nation's foreign policy.

The survey was conducted between March 30 and April 5 and involved 890 respondents.

AAP so/ht

KEYWORD: CHINA AUST

2009 AAP Information Services Pty Limited (AAP) or its Licensors.