Australia loses shine for China as investment halves

For more than three decades, China was Australia's golden goose, with commodity demand from the Asian powerhouse helping fuel an economic boom.

But now, things may be changing as ties between Beijing and Canberra have soured, dealing another blow to Australia that is already reeling from an economic recession amid the global coronavirus pandemic.

The deterioration in relations was borne out in a new report by the Australian National University's Chinese Investment in Australia (CHIIA) database which revealed that Chinese investment in Australia sank by over 47 percent to A$2.5 billion ($1.8 billion) last year, from A$4.8 billion in 2018.