China State Grid Acquisition of Australian Energy Company Stakes: Relocation of National Assets?
The Australian Treasury Department recently announced
the approval of the China State Grid Corporation’s (SGCC)
acquisition of stakes in Australian power companies.
Xinhua News Agency reported the news, but was
without the expected exaggeration in propaganda
about the power of China acquiring foreign assets.
The report stated that the approval was “conditional.”
Experts suggest that SGCC is not purely an economic entity.
It is also an instrument with which the Chinese
Communist Party conducts human rights abuses.
With the recent downfalls of Zhou Yongkang and
Li Dongsheng, there must be unease within SGCC about
it’s notorious behind the scene boss, Zeng Qinghong.
The purchasing of foreign companies is
believed to be transfering state-owned assets.
On December 20, Xinhua News Agency reported
that the Australian government has conditionally
approved the China State Grid Corporations
(SGCC) acquisition of Australian energy companies.
This is according to an Australia
Treasury department statement.
The acquisition was approved on the following condition:
At least half of the members appointed by the State Grid
to the boards of SP AusNet and Jemena must be Australian
citizens who are ordinarily residents of the country.
According to a statement from Treasurer
Joe Hockey, “Australia is open for business.
…we welcome foreign investment when
it is not contrary to the national interest.”
Xinhua also stated that the SGCC
did not disclose the requisition costs.
Australian local media reported the cost at $ 6 Billion.
Prof. Xie Tian, Business School, University
of South Carolina Aiken: “This is its most
convenient way to transfer assets publicly.
People can only watch as China’s
wealth continues to outflow.
It has a large impact on a free society,
free trade, and the enterprise system.”
On December 26, Xinhua reported
negative news about SGCC.
According to authoritative sources from the State Grid,
it was confirmed that there are a number of plans
for UHV transmission lines that have been shelved.
This is due to disagreement in national
planning, assessment, and approval.
SGCC was founded in 2000, with Party
Secretary Liu Zhenya as the Chairman.
Liu Zhenya was former Chairman of
Shandong Luneng Group Board of Directors.
In a January 2007 report by Caijing magazine, Luneng
Group is a large state-owned enterprise in Shandong.
In the name of restructuring, over 70 billion yuan of state
assets were transferred quietly to the family of high officials.
These officials included Zeng Qinghong,
Yu Zhengsheng, and Wang Lequan.
After the incident was brought to light, Liu Zhenya
escaped punishment under Zeng Qinghong’s shelter.
Zeng Qinghong followed former regime
leader Jiang Zemin to Beijing in 1989.
As a former Vice-President, Zeng
became known as Jiang Zemin’s servant.
Recently, high-level 610 Office official Li Dongsheng,
one of the main protagonists in the persecution
of Falun Gong, was placed under invesigation.
Former Secretary of the Politics and Law Committee,
Zhou Yongkang, is also rumoured to be under investigation.
Chinese search engine Baidu reportedly
lifted the ban on search terms including,
“arrest Luo Gan, Zeng Qinghong, Jiang Zemin.”
It also included, “Jiang Zemin, Luo Gan, Zhou Yongkang,
Li Dongsheng, crimes against humanity, genocide.”
Hua Po, Beijing political commentator: “The
conflicts have intensified to a critical point.
In order to reduce grievances, they have to share the pie.
This will impact those with power, and vested interests,
such as those represented by Zeng Qinghong."
Liu Zhenya is known as a vanguard in the persecution
of Falun Gong, from the CCP’s state-owned enterprises.
Liu Zhenya has personally slandered Falun Gong.
He is also reported to have been directly involved in the
persecution of employees who practiced Falun Gong.
in 27 provincial subsidiary companies of the State Grid.
He has been confirmed to have persecuted 139
employees, and led to 16 of them losing their lives,
suffering psychological trauma, or have disappeared.
Liu Zhenya conducted several forms of persecution;
restriction of personal freedoms through illegal
kidnapping, detention, monitoring and stalking;
economic persecution through dismissal,
withholding of wages, and illegal fines;
and psychological torture, through
sending them to brainwashing centers.
Chinese commentator: “China’s state-owned
enterprises are half business and half politics.
SGCC is an economic entity with strong political attachments.
The leader is the general secretary of the CCP,
and the party’s will is its guiding principle.”
As an addendum, monopolization of energy has also
allowed SGCC to increase its utility bills higher and higher.
According to complaints from residents in Dandong,
Liaoning Province and Yichang, Hubei Province,
the company has doubled utility bills.
This rise was undertaken in the name of upgrading meters.
Interview & Edit/LiuHui Post-Production/Li Anan