2016年CRI China criticizes blocking of AusGrid's sale

 

On August 11, the Australian government announced it was not going to allow the State Grid¹ Corporation of China and Hong Kong-listed Cheung Kong Infrastructure² Holdings from buying AusGrid.

The joint³ bid was worth 7.7-billion US dollars.

Unspecified national security concerns were cited, but the companies were given one week to amend⁴ their bids to mitigate⁵ risks.

Shen Danyang with China's Ministry⁶ of Commerce notes State Grid had been allowed to enter the binding⁷ bidding stage before the decision was made.

"The MOC also notices that this is the second time this year the Australian government has made decisions to block Chinese applications to conduct business investments in Australia. This decision clearly shows a trend toward trade protectionism, which will severely⁸ hurt Chinese enterprises' enthusiasm in investing in Australia."

Shen Danyang also says Australian officials need to back up their promises with action.

"The Australian side has said many times that it welcomes investment from Chinese companies, but then reverses their decisions. The Commerce Ministry hopes Australia's government works to create a fairer, better and more transparent⁹ trade and investment environment for Chinese enterprises."

This is the second time this year that Australian authorities have rejected bids by Chinese companies for the purchase of major Australian assets.

An offer by a China-led consortium to purchase the country's largest agricultural land owner, cattle company Kidman & Company, was rejected by Australia's government over national security concerns.

For his part, Australian Prime Minister Malcolm Turnbull has been critical of what he views as a growing protectionist mood among Australian lawmakers.

"Protectionism and inward-looking policies are starting to gain a foothold. Political divisions in advanced economies, particularly where there is high unemployment or a high risk of unemployment, are feeding on a sense of disenfranchisement among many people who feel the rapid economic changes of our time have left them behind. Political responses to this mood of disaffection can have the potential to destabilize global growth, perhaps even reversing some of the spectacular gains we have made over recent decades through open markets and free trade."

China is a critical trade and investment destination for Australia, with much of the country's mineral wealth being sold to China.

China has also become a major investor¹⁰ in Australia in recent years.

The overall relationship has been reflected through the upgrading of their official ties to a comprehensive strategic partnership¹¹ at the end of 2014.

A free trade agreement signed by the two countries officially took effect last year.

For CRI, I'm Xie Cheng.

1 grid   

n.高压输电线路网；地图坐标方格；格栅

参考例句：

• In this application,the carrier is used to encapsulate the grid.在这种情况下，要用载体把格栅密封起来。
• Modern gauges consist of metal foil in the form of a grid.现代应变仪则由网格形式的金属片组成。

2 infrastructure   

n.下部构造，下部组织，基础结构，基础设施

参考例句：

• We should step up the development of infrastructure for research.加强科学基础设施建设。
• We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。

3 joint   

adj.联合的，共同的；n.关节，接合处；v.连接，贴合

参考例句：

• I had a bad fall,which put my shoulder out of joint.我重重地摔了一跤，肩膀脫臼了。
• We wrote a letter in joint names.我们联名写了封信。

4 amend   

vt.修改，修订，改进；n.[pl.]赔罪，赔偿

参考例句：

• The teacher advised him to amend his way of living.老师劝他改变生活方式。
• You must amend your pronunciation.你必须改正你的发音。

5 mitigate   

vt.（使）减轻，（使）缓和

参考例句：

• The government is trying to mitigate the effects of inflation.政府正试图缓和通货膨胀的影响。
• Governments should endeavour to mitigate distress.政府应努力缓解贫困问题。

6 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

7 binding   

有约束力的，有效的，应遵守的

参考例句：

• The contract was not signed and has no binding force. 合同没有签署因而没有约束力。
• Both sides have agreed that the arbitration will be binding. 双方都赞同仲裁具有约束力。

8 severely   

adv.严格地；严厉地；非常恶劣地

参考例句：

• He was severely criticized and removed from his post.他受到了严厉的批评并且被撤了职。
• He is severely put down for his careless work.他因工作上的粗心大意而受到了严厉的批评。

9 transparent   

adj.明显的，无疑的；透明的

参考例句：

• The water is so transparent that we can see the fishes swimming.水清澈透明，可以看到鱼儿游来游去。
• The window glass is transparent.窗玻璃是透明的。

10 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

11 partnership   

n.合作关系，伙伴关系

参考例句：

• The company has gone into partnership with Swiss Bank Corporation.这家公司已经和瑞士银行公司建立合作关系。
• Martin has taken him into general partnership in his company.马丁已让他成为公司的普通合伙人。