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China biggest foreign land buyer in NZ in 2014

CCTV.com

10-19-2015 05:40 BJT

China is now one of the biggest foreign buyers of land in New Zealand. Statistics from the New Zealand government show that in 2010, China bought 53 hectares. That number jumped to 11,000 hectares in 2014, the biggest for the year.

In 2012, Shanghai Pengxin became the first private company to acquire farms, with a one-billion yuan purchase of 16 dairy farms. It now owns 29 farms in the country. 

New Zealanders have previously expressed concerns about land sales to foreign buyers. The government now demands investors demonstrate how the country would benefit before the deal is approved.

New Zealand’s neighbor Australia has also been a hot destination. A number of private Chinese firms are in the running to buy dairy operation S. Kidman & Company.

The bid quickly made domestic headlines because of the 100,000 square kilometer-land involved in the deal. That’s equivalent to the area of Zhejiang province on China’s east coast.

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