President Xi Jinping shakes the hand of Australian Prime Minister Malcolm Turnbull during their meeting at the G20 Summit in Hangzhou last Sept. 3. (Photo : Getty Images)
China is hoping that Australia can provide foreign investors with a fair and transparent environment, President Xi Jinping expressed on Sunday, Sept. 4, during his meeting with Australian Prime Minister Malcolm Turnbull for the first time since Canberra blocked a major deal, according to an article by Fortune.
Last month, China was enraged when Australia decided to stop the sale of the country's biggest energy grid, worth A$10 billion ($7.57 billion), after Chinese bidders failed to hurdle security concerns.
"China hopes the Australian side continues to dedicate itself to providing foreign investors a fair, transparent and predictable policy environment," Xi said after a meeting on the sidelines of a G20 summit in Hangzhou.
China's Foreign Ministry quoted Xi as telling Turnbull: "This also accords with Australia's own interests."
Australia's decision resulted in a rift between the relations of the two countries as China blamed Australia's protectionism led to the blocking of the bid for Ausgrid and another one by a China-led consortium to buy cattle company Kidman & Co.
According to the report, Turnbull told reporters later that China knew better that it was within Australia's right to determine its investors as well as the terms of investment.
"China has more freedom to invest in Australia, indeed all foreigners have more freedom to invest in Australia, than in almost any other country. We have a very open foreign investment policy," Turnbull said.
"So we mostly say yes, we almost invariably say yes, but from time to time we say no and we make no bones about that and China respects that," the prime minister added.
The Australian leader said that the Ausgrid case was not discussed in the meeting.
China has also criticized Australia, a known U.S. ally, for taking surveillance flights over the disputed South China Sea and supporting freedom of navigation exercises conducted by the U.S. in the area.
The foreign ministry quoted Xi as saying that he urged the two countries to respect each other's "choices in their development paths and each other's core interests and major interests".
Turnbull said he talked to Xi about the South China Sea and the importance of complying with international law.
"We're a good friend of China and good friends are very honest with each other," Turnbull added. "We are consistent and our position is very clear that we expect and encourage all parties to comply with the rule of law, to show restraint and not act in a way that would exacerbate or create tensions."
