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. 13.07.2018
    13.07.2018
    by      In
    Cybercrime is a potential threat to just about anyone who has any form of interaction with a computer. Or even a phone.
    We store and share our personal information on an increasing number of devices. These technological advances offer fantastic benefits to our quality of life and productivity. But... Read More
  2. 10.07.2018
    10.07.2018
    by      In
    Making good public policy always involves getting the details right. But it is equally important that we never lose sight of the big picture.
    When we talk about industry policy, we should not forget that at the deepest level it is an answer to this question: what sort of country do we want to be?... Read More
  3. 25.05.2018
    25.05.2018
    by      In
    The global space industry has undergone a major transformation since astronauts first walked on the Moon in the late 1960s. Half a century later, it is more appropriately known as the global space economy.
    Whereas once space was the domain of governments alone, now it attracts a massive private... Read More
  4. 21.05.2018
    21.05.2018
    by      In
    This year’s federal budget was delivered during National Manufacturing Week. Apart from that coincidence, however, the budget had almost no connection to Australia’s manufacturers.
    There is certainly nothing in it resembling a plan for the future of the sector, or any recognition of the importance... Read More