Osborne hails UK nuclear deal with China

Chinese companies will be allowed to take a stake in British nuclear power plants, Chancellor George Osborne announced today.

On his visit to China’s Taishan Nuclear Power plant in Guangdong, southern China, Osborne said: “Today is another demonstration of the next big step in the relationship between Britain and China - the world’s oldest civil nuclear power and the world’s fastest-growing civil nuclear power.”

The deal reportedly means that the Hinkley Point nuclear power plant in Somerset will be a “mirror image” of the Taishan plant in China.

Last month, Chinese investors decided to pump £800m for Manchester’s new airport and a Chinese billionaire announced a £500m investment to rebuild Crystal Palace.

The Chinese sovereign wealth fund also owns an 8.68% in Thames Water and owns 10% of Heathrow.

For what else China owns in the UK, Read our feature, How China bought Britain.

Readers' comments (1)

  • Short term gain-long term pain (but that won't bother me because I'll be out of it by then) is our politicians' pattern. They allowed most of our utility companies to be taken over by foreigners, over whom we have no control (the French would n't allow Danone to be bought by a UK company-said it was 'strategic'!) they get the gain; we get the pain. Instead of wasting 50 billion plus on a rail-line no-one wants, why not build our own nuclear power stations. Labour pussy-footed for 13 years, stymied by Greens and Ban the Bombers, and Conservatives have taken nearly three years to get going on this vital subject. Forget useless windmills and wave power; the only realistic non-carbon technology that will keep the lights on is nuclear.

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