Let me take a guess here Phil, you're a lefty academic, now working in, or as an adviser to, the bureaucracy, with family connections who either subcontract out out government building contracts, or specialise in building toilets in public schools.

How did I go?

Yes some of those halls will be useful, but then, so will the one at the private school down the road, which cost not much more than our damn toilet.

So a few Chinese buy some houses, just because something affects the Inner City the usual Lefty suspects turn virulently Racist and go full bore hate-speak. But then again scratch a Lefty and find a Racist, the "White Australia Policy" is Labor's as supported 50 years along by the "two wongs don't make a white" Labor Party leader. Neither do they care about drowning a thousand or so Asians recently while in Government.

What I wonder about is why are the Chinese preparing bolt-holes in Australia at the moment? Do they suspect something about China in the near / medium future that may be unpleasant?

The Chinese have a huge housing surplus!
So to be frank, they just don't need to be here!
Along with other non resident foreigners, like rich yanks etc/etc. Be they black, blue, bronze, pink or purple!
Massively stimulating and already overheated domestic housing market.
We have enough profit hungry landlords here already, without inviting debt laden foreign investors in, some of who are now building entire Residential apartment blocks!
Moreover, those we currently allow in, aren't supposed to be bidding up the prices at preowned action sales.
Increasing the tax foreigners pay on their purchases, might be a useful first step, and a fine at least twice the value of any Realtor commission, who claim they aren't policemen, is probably another?
Higher prices aren't more wealth; they're just higher rates, higher land taxes, higher rates, high insurance, higher maintenance costs, bigger more onerous mortgages, higher commissions and replacement costs!
Higher debt burdens are just not more wealth!
Everybody wins, except the resident home owner or renter!
Pollies should be obliged to hive off any real estate investments, before getting into politics!
If only to untie their hands, when action is needed or long overdue.
And lets apply the same rule at a very local level, to inherently dishonest property developers/councilors, who mostly just buy up soon to be rezoned land?
This should be treated no different to insider trading, because it is, ditto seized private holdings that are sold for a virtual song, to recoup overdue rates.
The practice is to apparently advertise the upcoming auction, in some rag nobody in their district is likely to read, and thereby effectively rob the owner, of the remaining after rates bill, personal equity!
We need to roll out rapid rail, to end the grid lock caused by commuting, and fiance the same through, self terminating thirty year bonds, (let the overseas investors snap them up and become part of the solution) followed by the sale of resumed and then rezoned land!
It's only hard due to a self evident conflict of pecuniary interests, by patently self serving pollies!?
Rhrosty.