The deal could emerge as a test of Australia's openness to foreign investment and influence diplomatic relations with Beijing. PengXin Group , the Chinese real estate , agriculture and infrastructure conglomerate , is bidding for two Australian companies being sold separately , Consolidated Pastoral Company and Lee & Co Buying both could cost more than $ 1bn and if successful , PengXin could become the biggest buyer of farmland in Australia . According to sources close to the company , PengXin could use Consolidated Pastoral Company 's cattle stations in Northern Territory , Queensland and Western Australia 's north to supply beef to the Asian market and S. Kidman & Co to supply beef to the Australian market .
PengXin Group , the Chinese real estate , agriculture and infrastructure conglomerate , is bidding for two Australian companies being sold separately , Consolidated Pastoral Company and Lee & Co Buying both could cost more than $ 1bn and if successful , PengXin could become the biggest buyer of farmland in Australia . According to sources close to the company , PengXin could use Consolidated Pastoral Company 's cattle stations in Northern Territory , Queensland and Western Australia 's north to supply beef to the Asian market and S. Kidman & Co to supply beef to the Australian market .