ISTANBUL

China’s ambassador to Australia on Wednesday criticized Canberra’s efforts to reclaim the Port of Darwin, following its long-term lease to Chinese company Landbridge.

"When you're losing money, you want to lease it to a foreign company and when it's making money, you want to take it back? That's not the way to do business,” Ambassador Xiao Qian told a news conference in Canberra.

"Starting from last year, Darwin Port stopped losing money and started to make money. It was at this juncture that suddenly we hear the government of Australia wants to take (it) back,” Xiao said, “I really question the ethic value.”

His remarks came amid growing pressure from Australian political parties to take back control of the strategically located port in the Northern Territory. Both the ruling Labor Party and the opposition parties had pledged during last election campaign to reverse the 2015 lease agreement.

"Should Landbridge be forced to leave that port, I think it might also affect the substantive investment, cooperation and trade between Chinese companies and that part of Australia. That is not in the interest of Australia either," Xiao said.

Following the comments, Chinese Foreign Ministry spokesman Guo Jiakun said the Chinese company “gained the lease of the port of Darwin in a way that (complies) with the market principle,” adding that the company’s rights should be protected.

When asked about Xiao's comments, Australian Prime Minister Anthony Albanese said Wednesday that the Landbridge lease would be terminated.

"We are committed to making sure that that port goes back into Australian hands because that is in our national interests," he said according to Australian Broadcasting Corporation.

In 2015, the Northern Territory government leased the port to Landbridge for 99 years in a deal worth 506 million Australian dollars (around $390 million). The agreement has since drawn scrutiny from Canberra and its allies, who have raised concerns over national security and Chinese influence in critical infrastructure.