China now owns 10 times the amount of Australian land it did last year
By Eryk Bagshaw
The amount of Australian farm land owned by Chinese interests has surged tenfold in the past year, climbing above 14 million hectares or 2.5 per cent of all agricultural land.
The findings from the Australian Tax Office's Agricultural Land Register, released this week, show the UK and China are the largest owners of foreign-held land in Australia, owning 27 per cent and 25 per cent respectively.
Here what the Treasurer has to say after Australia secured the world record for the longest period of uninterrupted economic growth.
Foreigners now own up to a quarter of all agricultural land in the Northern Territory and Tasmania, and 14 per cent of all farms across the country.