France's nuclear-reactor maker Areva open to Chinese funds, says French President Francois Hollande
It's natural to involve China in Areva's planned restructuring as the two nations cooperate to build nuclear plants, says French President
French President Francois Hollande said on Tuesday that France welcomed Chinese investment in its state-owned nuclear-reactor maker Areva, as he wrapped up his two-day trip to China.
"We welcome foreign capital in the Areva restructuring. It would not affect our sovereignty," Hollande said in Beijing.
On Monday, Areva and the China National Nuclear Corporation signed a memorandum of understanding for possible partnership on nuclear-waste recycling that could be worth €20 billion (HK$171 billion).
Hollande said that as China and France had become partners building nuclear plants together in Britain and China, it was natural to have the Chinese in the Areva recapitalisation. Last month, French utility company EDF came to an agreement with Chinese nuclear company CGN to jointly build the Hinkley Point nuclear plants in Britain.
Despite the continuous nuclear cooperation, Hollande said his two-day China trip focused more on climate change issues to ensure success in the upcoming UN round of climate talks to be held in Paris next month.
Read more: As Hollande heads to China, climate change tops agenda for French president
As the world's largest polluter, China will be a key player at the event, in the face of disputes over whether developed or developing countries should bear more of the burden for reducing emissions.
In his talks with Hollande, Premier Li Keqiang said China has used up too much energy and resources in its quest for growth, adding that the nation had a "duty to humanity" to clean itself up. More environmentally friendly development would be "obligatory" for China to "promote a restructuring of its national economy", he said.
"For a great many years, we consumed too much energy and resources to achieve our development, and this model has since become unsustainable," Li said.
In a joint presidential statement on Monday, China agreed that the Paris accord - intended to cap warming at 2 degrees Celsius over pre-Industrial Revolution levels - should include checks for compliance that all nations revise their emission reduction targets every five years.
Read more: China’s support on climate change ’essential’, says French President François Hollande
Hollande said this was a "historical" step forward, and one of the positive signals made by China, the world's largest emitter. In particular, he said, China should take on the responsibility to convince the developing world to take part in the mitigation and adaptation.
"China has significant influence upon emerging-market countries and the developing countries," Hollande said.
As China still sees itself as a developing country, performing the duty would set a benchmark, the French president said, blaming the failure of the 2009 talks on some developing countries' refusal to accept reduction targets.
