nuclear-news

China determined to export nuclear expertise: it all hangs on UK Hinkley project

Xi says UK nuclear success is crucial, Shanghai Daily, Source: Agencies | November 1, 2016, PRESIDENT Xi Jinping said yesterday China and France should properly implement the Hinkley Point C nuclear project in Britain, the first new UK nuclear power plant for two decades.

Xi made the remarks when meeting with visiting French Foreign Minister Jean-Marc Ayrault.

Chinese and French companies signed the agreement to build an 18 billion pound (US$21.9 billion) nuclear power plant at Hinkley Point C during Xi’s state visit to Britain in October last year. The CGN-led Chinese consortium and French company EDF respectively take 33.5 percent and 66.5 percent stakes.

The Hinkley Point project finally got the go-ahead after Britain’s new prime minister Theresa May delayed the deal because of national security concerns.

As part of the agreement, EDF will help CGN to gain a license to build its own nuclear reactor, Hualong, in Britain, whose nuclear regulatory regime is seen as one of the most stringent in the world.

China is keen to establish itself as an exporter of nuclear expertise so successfully building a plant in the UK would open the door to other markets……..

France and China would set up a fund for joint investment in overseas projects, he said yesterday. “Hinkley Point is a very good example of what we’re going to do together, to win contracts in third markets and in all sectors.”

The project to build the UK nuclear power plant station was “a model that we support everywhere, including in Africa and Asia,” he said.

The new joint fund would be set up soon, he said, without giving further details……….

China and France also signed a social insurance agreement yesterday that will exempt company employees assigned to work in each other’s countries from the mandatory social insurance contributions. http://www.shanghaidaily.com/nation/Xi-says-UK-nuclear-success-is-crucial/shdaily.shtml

November 4, 2016 - Posted by Christina Macpherson | China, marketing