The federal government has been urged by business groups to listen to China's call to raise the foreign investment review threshold to $1 billion. The foreign investment review threshold has come into focus amid Prime Minister Tony Abbott's push to intensify free trade talks with China. However, business groups urged the Abbott government to not feel pressure to meet its 12 month timeline for concluding talks if it means having to give in on too many issues to China. The Business Council of Australia (BCA) said improved investment conditions would have to be a crucial part of any China free trade pact. The Business Council encourages this by supporting an increase in the threshold for FIRB approval of private foreign investment to the same level already enjoyed by the US and New Zealand, recognising that foreign investment underpins a stronger Australian economy, said Ms Westacott. (VIEW LINK)
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