Strong wool eyes China
China looks set to play a key role in helping the New Zealand wool sector shift away from trading as a commodity supplier.
Bank of China NZ chief executive and China Chamber of Commerce NZ chair Warren Hu told the China Business Summit in Auckland today that New Zealand should follow Singapore when it comes to working with overseas investors.
Hu says while working in Singapore he was involved in many big infrastructure projects involving overseas investors including many from China.
“But in New Zealand, if a Chinese investor wants to invest in a highway project here, there are questions around sensitivities and security risks.
“Can China build a highway here and move it to Beijing?’ he asked.
“I think the sensitivity around security is bullshit.”
He says that as a small country like Singapore, NZ should be open to working with resources from all over the world.
“Singapore is the best friend of China and also the best friend of the US.”
