Lu's Moon Lake prevails in bid for Australia's dairy company

A Chinese investor was last month given the green light to buy Australia's largest dairy farm company, with the finance minister saying he welcomed foreign investment "not contrary to our national interests".

The sale of farmland to foreigners including to Australia's biggest trading partner China has been a sensitive issue, with Canberra in November blocking the sale of one of the world's largest cattle estates to Chinese companies.

Chinese businessman Lu Xianfeng, who owns an Australian window-blind maker and founded a Shenzhen-listed engineering company, made a 280 million Australian dollar ($202 million) bid for the Tasmanian-based and New Zealand-owned dairy business in November.