FDI 2004-2010: $6.97 billion
China is Australia's top trading partner. Chinese appetite for the country's natural resources has made Australia one of the biggest recipients of Chinese foreign investment.
China's FDI in Australia increased significantly after 2007. Net FDI from China doubled from $531.6 million in 2007 to $1.9 billion in 2008. Despite the global financial crisis, Australia saw another $2.4 billion in FDI from China in 2009. That same year, the Australia government changed its investment rules to limit Chinese investments in local mining companies, according to confidential U.S. embassy cables leaked by Wikileaks. The move came after China's state-owned Chinalco was denied an 18 percent acquisition in mining giant Rio Tinto for $19.5 billion.
China's interest in other parts of the Australian economy have also raised tensions in both countries. In March, Australia blocked China's Huawei Technologies - the world largest telecom company - from bidding for contracts in the country's $38 billion high-speed broadband network due to undefined security concerns. The ban led to discussions between the two governments with Australia pointing out that China has also been reluctant to open its markets to Australian investments. Despite the disagreement, the two countries signed an agreement in April on stronger cooperation on infrastructure, which could allow more Chinese investment in Australian projects.
Pictured: Rio Tinto iron ore mine in Western Australia