video-banner
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. 02.10.2019
    02.10.2019
    by      In
    The latest data from the Australian Bureau of Statistics paint a fairly sombre reflection of the Australian manufacturing industry, begging the question: what is the Morrison Government’s plan to help manufacturers to grow and become globally competitive?
    Each day that passes, it is becoming more... Read More
  2. 23.09.2019
    23.09.2019
    by      In
    Australia will always be a manufacturing nation. It’s become a bit of a go-to phrase for me recently but I want people to know the sector’s continued success is important to me and to the Prime Minister.
    Growing our manufacturing industries is a key part of the Morrison Government’s plan to deliver... Read More
  3. 15.08.2019
    15.08.2019
    by      In
    From any historical distance you care to choose, we live in by far and away the most remarkable era of human innovation and technological advance humans have hitherto experienced.
    While this is an exciting time, the impacts of technological change on work, life and society brings its fair share of... Read More
  4. 08.08.2019
    08.08.2019
    by      In
    The increasing popularity of prefabricated building presents a great opportunity for Australian manufacturers. The sector represents between 3 and 5 per cent of Australia’s $150 billion construction industry but has considerable potential for growth.
    With the right investment, Australia’s... Read More