CANBERRA, Australia -- Australia approved the sale of the country’s largest dairy to a Chinese buyer, bolstering the government’s assertion that it remains open to foreign investment despite mounting tensions over the purchase of prime agricultural land.

Treasurer Scott Morrison said the 280 million Australian dollar (US$202 million) sale of the Van Dieman’s Land Co. in the island state of Tasmania to Chinese businessman Lu Xianfeng and his Australian arm Moon Lake had been approved subject to undertakings to work with new laws aiming to cut tax minimization by foreign firms.