China begins wool empire in Australia

China begins its wool empire down under:
IN a $37 million move, one of China's biggest textile manufacturing companies has snapped up two of Victoria's most prized pastoral properties in the fine merino heartland of the Western District.

The deal, shrouded in secrecy and confidentiality clauses, is the first step by the Zhejiang RIFA Holding Group towards establishing an elite merino sheep and fine wool empire in Australia.
File under: "conservative" leader Tony Abbott seen nodding with approval.

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