A major Chinese donor has called for changes to federal political donor laws.
The billionaire head of the Yuhu Group, Huang Xiangmo, said direct contributions to politicians should be banned, arguing Australia should instead establish a democracy fund to accept donations from individuals and companies.
The Sydney based investor said the funds wouldn’t be direct to individual politicians but instead the government would allocate the funds based on the percentage of vote for each of the parties.
He added that these changed would avoid speculation about the motivation of the donors
The billionaire also directly criticised Treasurer Scott Morrison’s handling of the sale of the AusGrid power system, after a Chinese-dominated bid was rejected due to national security concerns.
He says the decisions sent a ‘very negative message to foreign investors’.
– See more at: http://www.skynews.com.au/news/politics/federal/2017/01/03/chinese-businessman-calls-for-donation-reform.html#sthash.FVxZ5qpe.dpuf