Na­tion protests ‘pro­tec­tion­ist’ act

China Daily (Canada) - - BUSINESS -

Aus­tralia’s de­ci­sion to block the A$10 bil­lion ($7.7 bil­lion) sale of its big­gest en­ergy grid to Chi­nese bid­ders was a pro­tec­tion­ist move that would neg­a­tively af­fect in­vest­ment in the coun­try, China’sMin­istry of Com­merce said onWed­nes­day. Aus­tralian Trea­surer Scot­tMor­ri­son said last week that pre­ferred bid­ders State Grid Corp of China andHong Kong’s Che­ung Kong In­fras­truc­tureHold­ings would be pre­vented from buy­ing elec­tric­ity net­work com­pany Aus­grid, cit­ing un­spec­i­fied na­tional se­cu­rity con­cerns. “This kind of de­ci­sion is pro­tec­tion­ist and se­ri­ously af­fects the will­ing­ness of Chi­nese com­pa­nies to in­vest in Aus­tralia,” min­istry spokesman Shen Danyang said, adding “China hopes Aus­tralia will cre­ate a fairer and more trans­par­ent en­vi­ron­ment for Chi­nese in­vest­ment.”

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