China’s ambassador to Australia says plans by the Albanese government to remove the Port of Darwin from Chinese ownership will put at risk future trade growth and force an intervention by Beijing.

Ambassador Xiao Qian hit out at Labor’s policy to force the Chinese-owned company Landbridge to sell its 99-year lease on the port, sparked by pre-election national security concerns from both Labor and the Coalition.

The government is yet to announce a timeline for the forced sale.

When Landbridge, owned by the Chinese billionaire Ye Cheng, first bought the port in 2015, it did not require federal approval, but the sale quickly sparked complaints from national security agencies and even the then US president, Barack Obama.

Conducting a press conference on Wednesday, Xiao said Canberra and Beijing, as well as the company’s owners, had discussed the port in the months since the 2025 election.

“Over the last 10 years, Landbridge has invested a lot,” he said. “Starting from last year, the Darwin port has stopped losing money and started to make money.

Landbridge paid $506m to secure a 99-year controlling lease over the port. Last financial year, the company recorded a $9.6m profit, up from a $37m loss the previous year.

China is Australia’s largest two-way trading partner, accounting for 24% of all goods and services trade last financial year, worth $309bn.

Anthony Albanese announced plans for a forced sale in a hastily scheduled radio interview during the election campaign last year. The prime minister said Landbridge had not invested enough in the port’s operations, even after previously ruling out moves to cancel the lease.

Two government reviews of the port sale, commissioned by both the Coalition and Labor, concluded there were no national security grounds to terminate the lease.

The then Coalition government scrambled after the sale to give the Foreign Investment Review Board greater powers.

Source: theguardian