EQUITY Trustees claims Australia needs to develop a uniform policy for dealing with the purchases of mines by Chinese state-owned companies.
The firm manages the assets of Rio Tinto which is being targeted by Chinalco who has agreed to raise its stake in the miner.
Treasurer Wayne Swan says the government should have greater oversight of such investments. He is taking action to change the Foreign Acquisitions and Takeovers Act to allow for this.
The company claims Australia needs to protect its debt laden resource businesses from cashed-up Chinese firms during the economic crisis.
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