Home topics news Image Credit: Wikimedia Commons News News Trade war could rekindle China’s interest in Australian businesses Yajush Gupta April 9, 2024 Chinese investment in Australia decreased by 36 percent in 2023, falling to AU$1.34 billion from AU$2.1 billion in 2022. Healthcare became the top industry, surpassing mining. These findings come from a report released by KPMG Australia and The University of Sydney. The report looked at Chinese investment in Australia from January to December 2023. Despite a small rise in global investment, Chinese investment in Australia stayed low. However, China’s investment in other countries increased, especially those involved in the Belt and Road Initiative. These are among the key findings of the Demystifying Chinese Investment in Australia (April 2024) report released today by KPMG Australia and The University of Sydney. The report analyses Chinese Overseas Direct Investment (ODI) into Australia for the calendar year January to December 2023. The fall in investment came despite a slight recovery in overall global Foreign Direct Investment, which increased by 3 percent in 2023 to US$1,365 billion, following a 12 percent decline in the previous year. China’s global non-financial ODI also returned to pre-pandemic investment levels in 2023, reaching US$130 billion. For the first time, the share of China’s ODI going to Belt and Road Initiative countries surpassed 20 percent of its total global ODI, marking a milestone in China’s global investment strategy. Helen Zhi Dent, Partner, Chinese Business Practice, KPMG Australia and co-author of the report commented: “Chinese investment in Australia