The Electoral Commission will not investigate Donghua Liu's alleged donations to the Labour unless a complaint is laid.
The millionaire businessman said he gave "equally" to both National and Labour and a signed statement emerged which said he paid "close to" $100,000 for wine at an auction fundraiser in 2007. The Herald has also been told he paid $15,000 for a book signed by Helen Clark, the prime minister at the time.
The statement also said Liu paid $50,000 for a boat cruise up the Yangtze River on which Rick Barker, a Labour Cabinet minister at the time, was a guest.
The Labour Party has said there are no records of the donations and challenged Liu to provide evidence, but the stand-off has prompted calls for an independent inquiry.
A spokesman for the Electoral Commission said it had so far received no complaint "and has been provided with no information in relation to the alleged donations".
"The Commission is not making any inquiries at this point. If it receives information which substantiates the alleged donations it will consider looking into them".
The alleged payments were made before changes to the Electoral Finance Act which cracked down on anonymous donations.
Read the Herald's earlier story:
• Liu's $100k wine news to Rick Barker