Chinese investment in Australia has fallen to its lowest level in five years, new research shows, sparking calls for the newly re-elected conservative government to improve its rocky relationship with Beijing.
After hitting a peak of Aus$15.8 billion (US$10.4 billion) in 2016, Chinese firms invested Aus$4.8 billion in the country last year, the Australian National University said Monday.
Researchers said the amount of cash piled into Australia had been "broadly in line" with China's global activities, except for last year when it fell 50 per cent from Aus$9.6 billion in 2017.
The data will fuel concerns that strained political ties between Beijing and Canberra are hurting the economic relationship.
"Chinese investment flows offshore have fallen generally in the past year but they have fallen more in Australia," report co-author Peter Drysdale told The Australian newspaper.
"It shows there is a problem as the investment relationship is more affected by the political situation.
"It is a serious warning sign that we have to do more to get the relationship back on track. Quite a lot of work has to be done to improve the relationship."