Chinese retail and supermarket giant Dashang Group has spent nearly $50 million buying Australian rural property, and is looking for more as it aims to become the lead importer of Australian beef to China. 
The Australian Financial Review can reveal that Dashang was the buyer of former Babcock and Brown founder Phil Green's Glenrock Station near Scone in the Hunter Valley, sold earlier this year for $45 million.
Dashang, based in China's northern port city of Dalian, which is also home to giant property developer Wanda, has also purchased the prime 1100-hectare rural property Clear Hills near Captains Flat outside Canberra.
Dashang, which is to become a cornerstone investor in the soon-to-be-listed Beston Global Food Company, has been buying land through an Australian subsidiary known as Australia Aulong Auniu Wang (AAAW).
AAAW general manager Michael Wang told the Financial Review that both land deals had been finalised.
He said Dashang's intention in Australia was to become the No.1 importer of Australian beef into China, and the first Chinese company to import live cattle from Australia under the recently signed live cattle export deal.
"A key aim of Dashang Group's investments in Australian agriculture is to provide Chinese consumers with the highest-quality Australian beef," Mr Wang said. "Dashang's investment in Glenrock represents an important move in securing the supply chain to underpin its Australian beef endeavours. In a country where food security is the number one topic for consumers, Dashang's securing of the supply chain aims to bring peace of mind for Chinese consumers."
The 30,868-hectare Glenrock Station is primarily a grazing property. The Clear Hills property outside Canberra is also grazing and was purchased for about $3 million. Dashang has gained approval from the Foreign Review Investment Board for the properties.
Mr Wang said Dashang, which was advised by law firm Hall & Wilcox, would invest further in Australian agriculture and in infrastructure improvements at Glenrock.
"As part of its commitment to contributing towards the local economy, Dashang have maintained the original farm team at Glenrock, who are now only running Angus cattle on the property," Mr Wang said. "The aim is to reach a target of between 10,000 and 15,000 head on the property."
Mr Wang said the attraction of Australian agriculture was its quality.
Numerous Chinese companies are looking at or have started to purchase rural properties in Australia. Some Chinese companies such as Fulida have started joint ventures with exporters to secure beef supply.
Mr Wang said Dashang would have a superior standing in creating a supply chain. He said while there are other Chinese companies investing in Australian agriculture, none have a capability and sales distribution network comparable to Dashang.