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Briefs: Chinese investment in property plummets

The annual report of the Financial Investment Review Board, released yesterday, shows approvals for Chinese investment in Australian property halved in the year to June 30, 2017, following the imposition of tougher rules and higher fees and taxes. The review board approved A$15.2 billion in property investments, down from $31.9 billion the year before. Across all sectors investment from the Chinese mainland of $38.8 billion was approved, down from $47.3 billion - the first overall drop in approvals for Chinese investment in six years.

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