Senator CORMANN (Western Australia—Minister for Finance, Vice-President of the Executive Council and Leader of the Government in the Senate) (14:27): The first point I would make in relation to the broader issue is that the government is aware of the announcement by Bellamy's to the ASX. The government does not comment on matters that are before the Foreign Investment Review Board. Let me make the general point that foreign investment is a key driver of Australia's economic growth. It creates skilled jobs, improves access to overseas markets and enhances productivity in Australia, which benefits Australian businesses and Australian consumers. Without foreign investment, production, employment and income would all be lower. The government recognises community concerns about foreign ownership of certain Australian assets, which is why the foreign investment review framework allows the government to consider these concerns when assessing Australia's national interest, while ensuring Australia remains an attractive place to invest. Where the government finds that a proposal is contrary— The PRESIDENT: Order! Senator Patrick on a point of order. Senator Patrick: My question goes to the point of market manipulation by the Chinese government to suppress the share price. The PRESIDENT: Senator Patrick, that was the last part of a long question that contained a lot of information. The minister is entitled to answer part of the question. He is being directly relevant. Senator CORMANN: Maybe I can assist the senator by describing the role of the Foreign Investment Review Board. The board's function is advisory only. The responsibility for making decisions on policy and proposals rests with the Treasurer. The role of the board, including through its secretariat, is to examine proposed investments in Australia that are subject to the policy, the Foreign Acquisitions and Takeovers Act and supporting legislation; make recommendations to the Treasurer; advise the Treasurer on the operation of the policy and the act; foster an awareness and an understanding, both in Australia and abroad, of the policy and the act; provide guidance to foreign persons and their representatives or agents on the policy and the act; monitor and ensure compliance with the policy and the act; and provide advice to the Treasurer on the policy and related matters. Where the government finds that a proposal is contrary to the national interest, it will not receive approval. Significant reforms to the foreign investment framework came into effect on 1 December 2015, which improved the monitoring of foreign investment and which means we're now better able to measure the benefits of foreign investment for all Australians. The PRESIDENT: Senator Patrick, a supplementary question.