Chinese companies to invest $20 billion in Australia’s tourism industry

SYDNEY, Australia - Australia's tourism industry is set for a $20 billion investment surge as major Chinese companies eye a raft of projects across the nation ahead of an expected doubling in Chinese

Chinese companies to invest $20 billion in Australia’s tourism industry

SYDNEY, Australia – Australia’s tourism industry is set for a $20 billion investment surge as major Chinese companies eye a raft of projects across the nation ahead of an expected doubling in Chinese tourism numbers over the next six years.

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Major Chinese developer Greenland Group told an investment forum in Sydney earlier this month that it was eyeing $3bn to $4bn in additional projects in tourism, infrastructure and agriculture on top of its existing $1.5bn in projects in Sydney and Melbourne.

Greenland’s interest comes as Hong Kong billionaire Tony Fung is proposing an investment of up to $8.2bn at Yorkey’s Knob near Cairns which would include a first stage of five hotels with 4000 rooms and a casino, a shopping centre and golf course

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