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China and the UK have signed a civil nuclear agreement that could be worth “hundreds of millions of pounds” to British companies.
The joint civil nuclear statement confirmed Chinese companies could own and operate a Chinese designed nuclear power station, provided they meet the requirements of the UK’s independent regulator.
This paves the way for Chinese companies to invest in the £16 billion Hinkley Point C project.
The governments also agreed to better cooperation on the wider nuclear fuel supply chain cycle by working together to develop and export innovative solutions in areas such as waste treatment and decommissioning which could be worth “hundreds of millions of pounds to British companies over several years”.
The two governments also signed a ground-breaking joint statement on climate change.
The UK and China have launched a joint £20 million research programme on Low Carbon Innovation, including research on offshore renewables, low carbon manufacturing processes and technologies, and low carbon cities.
Energy secretary Ed Davey said: “China and the UK stand united in our plans for more collaborative working that will help to achieve long lasting energy security in our own countries.
“Both governments recognise that tackling climate change is fundamental to our future and have committed to reduce emissions while enhancing energy security by investing in nuclear power.
“The joint statement with China reflects our shared intent to re-double efforts for an ambitious global agreement and domestic solutions to climate change.”
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