(MENAFN) Chinese investors have taken advantage of the declining Australian dollar after a report found Chinese investment in Australia surged by 33 percent through the previous year.
In accordance, Chinese investment increased to more than USD11.1 billion throughout last year, up 32.9 percent from the prior year in terms of the U.S. dollar, based on the latest reports.
Real estate and property continues to be the key area of investment for Chinese buyers, with 45 percent of total investment falling in this category, while renewable energy receives 20 percent.
All in all, Australia is considered to be the second most favored country for Chinese investment, behind only the United States which snagged a total of USD118 billion last year.
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