"Is agriculture an important part of our economy yes. Do we want to sell more agricultural production into Asia and China absolutely. Do we need more in capital in agriculture - yes," he told Xinhua.
According to Calder, Chinese investment in Australia has actually been falling since its peak in 2010 and China "continues to be massively outspent" by the traditional investment partners such as the United States and the UK.
"Australia is still a long, long way from being swamped by Chinese capital. In fact, as a country, Australia is now facing falling investments from China as other countries court China for its investment dollars. This declining share of Chinese investment, in my view, is far more concerning to our economy than any perceived issue that may arise from 'too much' Chinese investment. "
According to KPMG research, in the first half of 2012, China's outbound M&A was spread across 34 countries, with America and Canada receiving the largest investment flows.
Calder said, "We need to understand that China is flexible in relation to investment and operating models of co-operation. We need to be proactive in saying what we want. This is especially the case in the area of agriculture.
"We may not want to sell the farms but we do want investments in Agricultural supply chains and infrastructure and in large scale agribusiness projects such as the Ord."
According to the ACBC, should the Ord expansion bid prove successful "it would be a terrific boost both to the region and to our relationship with China."
'Gangnam style' life of young rich in Chongqing
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