China ambassador defends Australia investment bids

CANBERRA, April 2 (Reuters) - Beijing's ambassador to Australia has defended Chinese investment in local resource firms as Canberra considers whether to approve a $19.5 billion tie-up between state-owned metals firm Chinalco and Rio Tinto (RIO.AX).

"Rather than using emotive language, we should approach this matter in a rational and comprehensive manner," Zhang Junsai wrote in The Australian newspaper on Thur.

"Despite recent growth, investment from Chinese companies is still small. By the end of 2008, about 300 Chinese companies had directly invested in Australia, less than 1 percent of total foreign investment in Australia," Zhang said.

Full Story:

http://uk.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUKSYD48505120090401