China’s nuclear plant makers seek new markets along the ancient Silk Road into Asia, Europe, Africa and Middle East
‘One belt, one road’ policy for financing and support for infrastructure projects is helping nuclear plant constructors expand into overseas markets
China, which has almost half the world’s pipeline of nuclear power projects to be built by 2030, wants to export its expertise in the industry as part of President Xi Jinping’s ‘one belt, one road’ international development strategy.
The policy was first proposed in 2013 to promote infrastructure construction deals overseas along with goods and services trade along the ancient Silk Road from China to Europe and along the ancient maritime trade route linking China to southeast Asia, the Middle East and Africa. The state is offering financing at a time when China’s economy grew at the slowest rate in 25 years and its industry faces severe overcapacity problems.
Beijing has encouraged local firms to become involved in infrastructure projects in southeast Asia, Europe and Africa. Chinese nuclear reactor builders are a growing force in the global nuclear industry.
“The export of nuclear reactors will become one of the key pillars for executing China’s one belt, one road strategy,” Zheshang Securities analyst Zheng Dandan said.
China’s power generation equipment makers have won orders after the traditional coal-fired power segment shrank. The nation is attempting to shift towards cleaner energy to combat air pollution which was so bad in December that Beijing issued its first red alert, triggering school closures. Nuclear power may offset that.
