Political Risk

Australia port lease to China sparks tensions inside and out

Australian Prime Minister Malcolm Turnbull on Thursday defended the lease of a commercial and military port in northern Australia to a Chinese firm said to have close ties to the Chinese military.The Landbridge Group, owned by Chinese billionaire Ye Cheng, was announced in October as the winning bidder for a deal to operate Darwin’s port in a deal worth A$506 million ($362.65 million).

Source: Australia port lease to China sparks tensions inside and out | Reuters

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