The visiting Chinese Deputy Premier, Hui Liangyu, got concrete proof that Chinese investment in New Zealand is welcomed, with the signing of a memorandum of understanding at the Prime Minister's official residence in Wellington today.
The MOU is between the local arm of the global accounting firm PricewaterhouseCoopers, now known as PwC, and one of mainland China's largest financial institutions, the China Development Bank.
Finance Minister Bill English was on hand to witness the signing, which PwC says will allow cooperation with CDB on "major development projects with particular emphasis on reconstruction and investment in the Canterbury region of New Zealand following the Canterbury earthquakes, as well as in agriculture, infrastructure, natural resources and finance."
The agreement marks a positive note during the visit from one of China's most senior politicians, which has coincided with widespread media reporting of anti-Chinese investor sentiment created by the bid by China's Pengxin International Group for the 16 farms formerly owned by the Crafar family, now in receivership.
A rival $171 million bid for the farms, from a consortium led by New Zealander Sir Michael Fay, was rejected by the Crafar farm receivers, KordaMentha, earlier this week.
