Australian shares are set to open lower, tracking overseas losses. Bond yields rose and the probability of a US March rate cut faded further. Volatility surged.
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The federal government secretly rejected a Chinese power giant s proposed involvement in building a new $300 million gas power plant in NSW.
The revelation sheds further light on the government s crackdown to restrict Chinese foreign investment, construction activity and supply chain involvement in Australia.
It emerged this week that Treasurer Josh Frydenberg acted on national security concerns to reject a $300 million takeover of building contractor Probuild by China s largest construction company, state-owned China State Construction Engineering.
The existing Tallawarra generator. A large Chinese power generator was a leading bidder on the Energy Australia tender to construct a new gas power plant on the site.