China to invest in NSW ag

CHINA'S Bright Food, the government-owned company interested in CSR's Sucrogen business, is looking to NSW agriculture for more investment opportunities.

It will target sugar, dairy and wine operations, and will receive assistance in identifying opportunities from the State government after signing a Memorandum of Understanding with treasurer, Eric Roozendaal on Tuesday.

The deal highlights growing foreign, and specifically Chinese, investment in Australian agricultural resources despite concerns being raised by the Foreign Investment Review Board this month.

It is hoped the deal will also help link Chinese suppliers with buyers in NSW, while also opening up the Chinese market for local companies.