(MENAFN) Local media reported that China's Beijing Agriculture Investment Fund has committed to spend USD2.7 billion on Australian agriculture industry, Xinhua reported.
The agricultural investment includes dairy, beef, lamb and aquaculture industries. Australian media reported that China's investment is set to boom, as farmers welcomed the news.
"We are not a threat to China; we will produce premium products to the people of China and they can be reliant that Australia does not have a hope in Hades of feeding the Chinese population," a senior government figure said.
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