The Times corrects report on Chinese stake in National Grid

The Times has corrected an error in its reporting on the ownership of the UK’s gas distribution network, after wrongly claiming that China’s sovereign wealth fund retained a major holding.

In its October 16 article, the newspaper stated that the China Investment Corporation (CIC) held a 10.5 percent stake in National Grid’s gas distribution arm. In fact, National Grid sold its remaining interest in the business — now known as Cadent Gas — in 2019, meaning CIC has no current shareholding.

The misstatement inadvertently revived outdated concerns about foreign state involvement in UK energy infrastructure, suggesting an ongoing Chinese financial interest in a critical national utility when none exists. While CIC was among a consortium of investors that originally acquired part of the distribution network in 2017, its connection to Cadent Gas ended years ago.

By failing to make that distinction clear, the original article risked misleading readers about the current ownership structure of Britain’s gas supply network and overstating the role of Chinese investment in the sector at a politically sensitive time.