The latest Chinese bid for the Crafar dairy farms is a key test for new rules on foreign ownership, reports Karyn Scherer

China's enormous sovereign wealth fund, the China Investment Corporation, may have set aside up to 1.5 per cent or about $6 billion of its massive foreign exchange reserves to invest in New Zealand assets.

Rakon powered back into profit as it lifted full year revenue 31 per cent to $189.3m.

The Government has yet to take a truly holistic look at the dairy industry.