Theresa May not happy with Chinese nuclear investment plans for Britain

Britain’s May worried by China investment, intervened to delay nuclear deal, SMH, Kate Holton , 31 July 16 London: British Prime Minister Theresa May was concerned about the security implications of a planned Chinese investment in the new Hinkley Point nuclear plant and intervened personally to delay the project, a former colleague and a source said.

The plan by France’s EDF to build two reactors with financial backing from a Chinese state-owned company was championed by Mrs May’s predecessor David Cameron as a sign of Britain’s openness to foreign investment.

But just hours before a signing ceremony was due to take place on Friday, Mrs May’s new government said it would review the project again, raising concerns that Britain’s approach to infrastructure deals, energy supply and foreign investment may be changing.

The decision could prove a test for Mrs May, with any attempt to renegotiate the terms of the project potentially straining relations with Paris and Beijing at a time when Britain is seeking to build trade deals following the country’s vote to leave the European Union.

“When we were in government Theresa May was quite clear she was unhappy about the rather gung-ho approach to Chinese investment that we had,” Vince Cable, Britain’s former business secretary and a leading member of the Liberal Democrats, who governed in coalition with Mr Cameron, told BBC Radio.

He later told Sky News her concerns over China’s involvement were linked to national security. “This was an issue that was raised in general but it was also raised specifically in relation to Hinkley,” he said……..http://www.smh.com.au/world/britains-may-worried-by-china-investment-intervened-to-delay-nuclear-deal-20160731-gqhkm7.html

August 1, 2016 - Posted by Christina Macpherson | politics, politics international, UK