A lobby group representing the interests of mining companies in the Northern Territory says there is evidence China is holding back from investing in Australia.
The Minerals Council of Australia''s Territory branch says there is intense uncertainty about the Federal Government''s 40% super profits tax.
MCA president Mr Scott Perkins said that the tax is putting projects on hold and concerning investors in China.
He said “There is a tremendous concern. We''ve got direct evidence from some of our members that the Chinese investment community is now on hold waiting for this tax to be introduced so that they can make separate decision about their investment parameters.”
He added that “For some time as a nation we have looked to China to be a trading partner through financial crisis and this uncertainty is adding to the mix in regard to those investment decisions.”