You are using an older browser version. Please use a supported version for the best MSN experience.

SA welcomes Chinese investment in land

AAP logoAAP 9/09/2016 Marnie Banger

South Australian Premier Jay Weatherill has brushed off concerns about Chinese investment in Australian farming land, saying his state welcomes it.

Hundreds of Chinese business and government figures are in SA for a three-day trip aimed at strengthening ties and boosting trade between the regions.

The 200 delegates, most from the state's Chinese sister province Shandong, have spent Friday hearing export pitches from local businesses.

The state government says almost a fifth of all exports from SA in the year to June 2016 were to China, making the country its highest export partner.

Mr Weatherill says he will continue to welcome Chinese investment in SA if it means more jobs and wealth.

He says concerns about Chinese investment in Australian agricultural land are "not well placed".

"We don't believe that the destination of foreign investment whether it's the US, the UK or China is a relevant consideration," he told reporters on Friday.

"The only thing that's relevant is does it create jobs and prosperity for South Australians. If the answer to that question is yes, then it's welcome."

A report released by the federal government on Wednesday shows British investors are the biggest owners of Australian farm land.

China is fifth behind the US, Netherlands and Singapore.

image beaconimage beaconimage beacon