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China "interested" in mining tax

China is not concerned by the federal government's proposed new mining tax, Foreign Minister Stephen Smith says.

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Source: AAP


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China is not concerned by the federal government's proposed new mining tax, Foreign Minister Stephen Smith says.

There has been speculation Chinese authorities and resources buyers are worried about the higher tax on mining super profits.

"I'd describe it as interest rather than concern," Mr Smith told Sky News from Shanghai.

"Of course there will be interest, but I don't believe in any way this will adversely impact on the economic relationship that China and Australia have in the minerals resources area."

The tax hike was raised in talks Trade Minister Simon Crean held with his Chinese counterparts in China on Monday.

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Mr Smith said he had seen no evidence of Chinese companies dropping investment in Australian minerals projects.

"China wants Australia amongst others to continue to supply it with the materials it needs to continue to grow its economy."


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