The New Zealand government has approved the sale of 16 dairy farms to a Chinese investor, Shanghai Pengxin, despite facing strong criticism from local farmers and businessmen.
The government's decision to allow a foreign investor to acquire land has proved contentious across New Zealand, where agriculture plays a significant role in export earnings.
The government initially approved the sale in January, but it was challenged by local farmers and businessman, who had hoped that they could acquire the land themselves.
Shanghai Pengxin has acquired a total of 20,000 acres and it plans to spend near $200 million New Zealand dollars to buy and improve their assets.
A legal appeal against the decision to approve the sale is currently underway.
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