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International relations

Rocky China ties seen driving Australia foreign investment reforms

Planned rules set to counter espionage fears as cyberattack jolts Canberra

China's Landbridge Group holds a 99-year lease to the Port of Darwin -- the sort of deal Australian critics say warrants closer scrutiny.   © Reuters

SYDNEY -- Australia's announcement earlier this month that it would tighten its foreign investment rules as a national security measure set off a wave of speculation that China, its biggest trading partner, was the primary target.

Now the business community is awaiting the draft legislation, expected in July, followed by a six-week industry consultation period. Some experts are already calling this the biggest regulatory overhaul in decades.

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