The trade war between the U.S. and China hasn’t prompted the Asian giant to make rushed decisions. On the contrary, China continues to pursue very long-term plans, including a significant push in the oil sector. In its quest for energy self-sufficiency, the country is also making substantial advancements in the nuclear energy sector.
Recent developments. China approved the construction of 10 new nuclear reactors with an investment exceeding $27.5 billion, according to state-owned Chinese outlet The Paper. This marks the fourth consecutive year that the Asian nation has approved large-scale nuclear initiatives.
Renewed momentum. Three state-owned companies will lead China’s nuclear ambitions: China General Nuclear Power Corp., China National Nuclear Corp., and State Power Investment Corp. Additionally, according to state-owned China Daily, Chinese authorities have strengthened control measures to ensure that each new reactor meets the safety standards set by the International Atomic Energy Agency.
State investment. China’s strategy is closely linked to optimizing construction and operational costs. Its state apparatus provides loans at low interest rates. This support has been crucial for the success of nuclear projects, according to The Paper.
Looking ahead. Bloomberg reports that China’s operational nuclear capacity could reach 110 million kilowatts by 2030, surpassing that of any other country. If this growth continues, its nuclear fleet could approach 200 gigawatts by 2040. This would account for about 10% of China’s total energy production.
Expansion. China’s nuclear growth is a strategic move in a global shift towards cleaner energy sources. The country wants to position itself as an exporter of nuclear technology, including its domestically designed Hualong One reactor. If this trend solidifies, China could emerge as a geopolitical leader in the new energy landscape. As a result, it would leverage its industrial capabilities, state financing, and energy diplomacy to challenge Western dominance.
Image | Yue Teng
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