none
none

CHINESE LEASE OF AUSTRALIAN POWER BLOCKED

23-08-2016
by 
in 

Scott Morrison has formally announced that the Chinese state-owned State Grid Corporation will not be allowed to lease Sydney's electrical grid in a deal worth $10 billion AUD, citing concerns of national interest.

While this announcement has been met with accusations of xenophobia, or pandering to politicians and voters with xenophobic views, Mr Morrison has reiterated that the decision was not based on discriminatory views.

"In making this decision, national interest concerns have been paramount," he said when initially questioned upon his plans to prevent the lease from going forward.

This is the second time in recent news that Chinese international energy investment has run into barriers, with Britain recently choosing to delay the construction of a new Chinese-backed nuclear power plant.

The most vocal critics of these developments have been Chinese corporations and media. Last week, China's state-funded Xinhua News Agency criticised both Britain and Australia for pushing back Chinese investments, citing concerns of "China-phobia."

Similarly, Cheung Kong Infrastructure has said that they "believe the Australian Federal Government must have reasons beyond the obvious, which led them to make the concerned decision and that the issue is unrelated to CKI."

Pauline Hanson, leader of the One Nation party, has spoken out in favour of the decision, and against Australia's free trade deal with China.

Related news & editorials

  1. Senator Cash
    15.11.2017
    15.11.2017
    by      In
    In October, the last Australian-made Toyota and Holden cars rolled off the assembly line at Altona and Elizabeth. For thousands of workers who have made Australian cars – and the families and communities that have supported them – this was undoubtedly an emotional time.
    The International President... Read More
  2. Senator Kim Carr
    02.11.2017
    02.11.2017
    by      In
    Sovereign capability in an industry doesn’t emerge out of a vacuum, nor does it grow on a tree.
    It is just empty rhetoric to rely on the concept of natural advantage. Sovereign capability needs to be built, and then maintained, often over a long period of time. Acquiring this capability requires... Read More
  3. Senator Kim Carr
    16.10.2017
    16.10.2017
    by      In
    Earlier this month, the last Australian-built Camry rolled off Toyota’s production line at Altona in Victoria. And shortly, the last Australian-built Commodore will emerge from Holden’s assembly plant at Elizabeth in South Australia.
    This is not only the closure of two factories. The shutdown of... Read More
  4. Senator Lee Rhiannon
    16.10.2017
    16.10.2017
    by      In
    The Australian automotive industry is at a crossroad. One path continues on a trajectory of decline, with skills and jobs losses, the other path forges a new path of stability, workers’ rights and innovation.
    Climate change is impacting on the automotive industry, with a necessary shift away from... Read More