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National security crucial in decision on whether to allow Chinese investment in power grid: Australian treasurer

9th August 2016

Australia’s treasurer said on Monday that national security would be his overriding consideration when he makes a decision on whether to allow a Chinese consortium to lease a major Sydney electricity grid.

Scott Morrison said he was close to making a decision on whether to allow Chinese state-owned State Grid Corp. and Hong Kong-registered Cheung Kong Infrastructure Group to buy a 99-year lease for half of the New South Wales state-owned electricity network Ausgrid for more than A$10 billion (US$7.6 billion).

“This is not an easy decision,” Morrison told Sydney Radio 2GB. “National security out ranks everything.”
Chinese foreign investment, particularly from state-owned companies, has become increasingly contentious in Australia has China takes a more aggressive stance in territorial disputes in the South China Sea.

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