China-Australia relations: Beijing slams Canberra for ‘politicising’ canned US$230 million deal on national security grounds Su-Lin Tan State-owned China State Construction Engineering Corporation has withdrawn its offer to buy Australian builder Probuild in a deal reported to be valued at A$300 million (US$231 million). Photo: AFP
State-owned China State Construction Engineering Corporation has dropped its bid for the Australian builder of the tallest residential tower in Sydney, Probuild, after indications that Australian Treasurer Josh Frydenberg would block the deal on national security grounds.
This did not escape Beijing s attention, and on Tuesday China s Ministry of Foreign Affairs cautioned Canberra not to politicise business deals and jeopardise long-standing commercial relationships, as well as agreed-upon free trade between the two countries.
Share this article
Share this article
ResearchAndMarkets.com s offering.
The global construction industry is expected to reach an estimated $10.5 trillion by 2023, and it is forecast to grow at a CAGR of 4.2% from 2018 to 2023.
The future of the global construction industry looks good with opportunities in residential, non-residential, and infrastructure.The major drivers for the growth of this market are increasing housing starts and rising infrastructure due to the increasing urbanization and the growing population.
Emerging trends which have a direct impact on the dynamics of the construction industry include increasing demand for green construction to reduce carbon footprint, bridge lock-up device systems to enhance the life of structures, building information systems for efficient building management, and the use of fiber-reinforced polymer composites for the rehabilitation of aging structures.
Josh Frydenberg's effective blocking of the Probuild takeover shows that China no longer gets the benefit of the doubt on foreign investment decisions.
Foreign Ministry Spokesperson Zhao Lijian s Regular Press Conference on January 12, 2021
2021/01/12
Shenzhen TV: U.S. Secretary of State Pompeo tweeted on January 11 that CCP is the biggest threat to the UN. He also criticized China s practice in international institutions such as WHO. Do you have a comment?
Zhao Lijian: Mr. Pompeo certainly went to great lengths to spread political viruses. He s truly in a league of his own when it comes to weaving lies and distorting facts. I will just respond with three points.
First, China has always been a defender of world peace and international order. Only recently President Xi Jinping announced a series of major initiatives at the high-level meetings commemorating the 75th anniversary of the founding of the United Nations, including providing $50 million to the COVID-19 Global Humanitarian Response Plan, setting up the third FAO-China South-South Cooperation Trust Fund at $50 million, and making an additional donation of $10 million