Chinese swoop on 16 dairy farms in New Zealand

Friday 27 January 2012 19:06 EST

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Chinese investors are buying New Zealand farmland for the first time, causing anxiety in a country heavily reliant on agriculture.

New Zealand's government approved the sale of 16 dairy farms to a Chinese developer, whose total investment in the project will be more than £100m.

The Prime Minister, John Key, defended the sale, saying less than 1 per cent of farmland had been sold to foreigners, but nationalist voices lined up against the deal, saying it will open the floodgates to foreign ownership.

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Chinese swoop on 16 dairy farms in New Zealand

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