Widespread fears of a flood of Asian investment and a Chinese farm-buying spree are misplaced - Australia is the largest overseas investor in New Zealand.
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"Despite much press about Chinese investment in the country and agribusiness deals seizing the headlines, research highlights that over the last two years, investment out of China and Asia is lower than you might expect and agribusiness is a small portion of the whole," said the 16-page report, Analysis of Foreign Direct Investment, released today and written by corporate finance partner Justin Ensor.
The largest foreign investment came from Australia (46pc), America (15pc) and Europe (10pc) which account for 70 per cent of all deals by value.
Japan, not China, is by far the largest foreign investor out of Asia. The Japanese want beverages and consumer brands, KMPG said, citing the sale of Independent Liquor and Charlie's. Japan accounts for 53 per cent of Asian deals, followed by China at 33 per cent, Singapore at 10 per cent and Malaysia at 4 per cent.
One of China's biggest buys here lately was manufacturer Fisher & Paykel Appliances by Haier.
South Korea and Indonesia were noticeable for their absence and KPMG said these countries "present a significant opportunity for New Zealand" for trade
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