A Chinese government-owned energy company that is a potential buyer of NSW electricity assets, State Grid Corp, was the subject of a "major" state audit last year which uncovered allegations of corruption amounting to more than $1 billion.

As Premier Mike Baird on Wednesday was asked more questions about the company and its dealings with the NSW government it has emerged that State Grid Corp's president, Liu Zhenya, was named as a key focus of the probe.

Premier Mike Baird: "My job is to encourage investment into NSW." Credit:Brendan Esposito

Mr Baird's office confirmed that a State Grid Corp executive, Shu Yinbiao, was one of those present at a business roundtable addressed by Mr Baird during his trip to China in September, not its president Mr Liu as previously advised.

In May the South China Morning Post reported the "massive audit" was in response to authorities receiving letters "alleging financial problems and accusing the power company's management of potential corruption".