18 March 2014
Key needs to get tips from China on restricting land sales
John Key should get some tips on how China protects its economic interests through restricting land sales to foreign
investors, Green Party Co-leader Dr Russel Norman said today.
The Government has signalled to China it would be politically easier if it focused on leasing land in New Zealand rather
than buying it outright.
“John Key knows that New Zealanders are growing increasingly concerned about the sale of both residential and farmland
to overseas investors,” Dr Norman said.
“Earlier this month, Shanghai Pengxin, the company that bought the Crafar farms, was able to purchase another 4,000
hectares of farmland in South Canterbury.
“The Overseas Investment Office was happy to sign off this deal due to its importance to the Key Government’s China
strategy.
“This failed economic strategy will see overseas investors being encouraged to purchase milk processing plants, farms
and land so that they can control the entire value chain.
“John Key and National need to rethink their strategy and indeed look at how China successfully restricts land sales to
overseas investors.
“It is not in New Zealand's long-term strategic economic interests to rubber stamp large-scale purchases of our farmland
to overseas buyers whether they come from China, Australia or Sweden.
“A future Government involving the Green Party would look to progress legislation already drafted that would restrict
foreign investors from purchasing New Zealand farmland.”
ENDS