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Australia welcomes Chinese investment despite collapse of Chinalco deal
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17:01, June 05, 2009

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Australian Prime Minister Kevin Rudd asserted that Australia still welcomed Chinese investment despite Rio Tinto's decision to scrap a deal with China's Chinalco on Friday.

Rudd said the government was not opposed to the deal on the grounds that foreign funds generated jobs.

"The government maintains a policy of openness towards foreign investment and we'll always make decisions in the national interest, as I assume the Chinese government makes decisions in the national interest about what foreign investment it welcomes in its country at any given time," Rudd told reporters in Canberra.

"As for Chinese investment in Australia, we welcome Chinese investment in Australia just as the previous government approved some 15 billion Australian dollars (12.07 billion US dollars) worth of Chinese investment into this country as well," he said.

Rio Tinto on Friday scrapped the proposed tie-up with Chinalco in favor of an 18.96 billion Australian dollars (15.2 billion US dollars) equity raising and an iron ore joint venture with rival BHP Billiton Ltd.

Source:Xinhua



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