Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Australian billionaire politician apologises for TV tirade over China

Published 26/08/2014, 03:20
Australian billionaire politician apologises for TV tirade over China
0267
-

SYDNEY (Reuters) - Australian mining magnate and politician Clive Palmer has apologised to China's ambassador to Australia for a tirade in which he referred to the Chinese government as "bastards", setting off a firestorm in Canberra and Beijing.

The apology, in the form of a letter to Ambassador MA Zhaoxu, came after Australian Prime Minister Tony Abbott and China's Ministry of Foreign Affairs condemned his remarks aired on television on Aug 18.

"I regret any hurt or anguish such comments may have caused any party and I look forward to greater understanding for peace and cooperation in the future," Palmer, whose Palmer United Party holds the balance of power in parliament's upper house, wrote in a letter addressed to the ambassador.

Palmer released the letter dated Aug. 25 to the public on Tuesday. The Chinese embassy could not be reached for comment.

China is Australia's biggest trade partner with two-way trade approaching $150 billion, representing more than 20 percent of Australia's total trade.

Palmer later insisted the live-to-air comments were directed at a Chinese company he's battling in court, not the Chinese government or people.

The billionaire tycoon is locked in a legal fight with Chinese firm CITIC Pacific Ltd (HK:0267) over cost overruns and royalty payments involving the Sino Iron project in Western Australia, China's biggest foreign mining investment.

"In keeping an open mind, I now come to the realisation that what I said ... was an insult to Chinese people everywhere and I wish to assure them they have my most genuine and sincere apology," he wrote. "I am sorry that I said the things I said on the program."

Palmer has been a thorn in the side of Abbott's government since his Palmer United Party won three seats in Australia's senate at last September's elections.

After holding the new senate hostage over the repeal of Australia's controversial carbon tax for weeks as he haggled for concessions, he has now vowed to block the budget in its current form.

(Reporting by James Regan; Editing by Jeremy Laurence)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.