NEW ZEALAND’S national building material supplier to become acquired by China’s CILOTECH CO. source Google Translate title New ZEAN building materials to be bought by China article The deal is the latest in a series of deals by China and New Zealand to bolster their strategic relationship.
A New Zealand government report in November 2016 warned of the threat to New Zealand by China, saying the country’s economic growth and development would be severely impacted if New Zealand did not cooperate more closely with China.
A separate report in May, published by the National Research Council (NRC), said China was “engaging in a massive effort to dominate and develop New Zealand” and the “greatest risk is that this will be repeated in the future”.
The report warned China was looking to “control the economic and political environment in New Zealand and that includes both domestic and foreign policy”.
China and the United States have been negotiating a free trade deal that would see New Zealand join the European Union.
New Zealand Prime Minister John Key has said the deal will bring $US3 billion ($3.2 billion) to the country each year.
But the deal also comes as New Zealand is facing an escalating crackdown on Chinese businesses in the wake of an anti-corruption investigation that saw a former police officer convicted on corruption charges.