Min­istry: In­dus­try sees best growth in three years

China Daily (Hong Kong) - - BUSINESS -

China Gen­eral Nu­clear Power Corp is eyeing Poland as a po­ten­tial desti­na­tion for nu­clear ex­ports, as part of its ex­pan­sion in Europe apart from the United King­dom, the Czech Repub­lic and Ro­ma­nia.

Pol­ish au­thor­i­ties have been con­sult­ing with CGN, China’s largest nu­clear op­er­a­tor, on co­op­er­at­ing and build­ing the coun­try’s first nu­clear power sta­tion, ac­cord­ing to a state­ment on the CGN web­site on Mon­day.

“CGN at­taches sub­stan­tial sig­nif­i­cance to the Pol­ish nu­clear power mar­ket and is will­ing to be­come a longterm strate­gic part­ner of the coun­try,” said Shu Guo­gang, vice-pres­i­dent of CGN.

The two par­ties signed a Mem­o­ran­dum Of Un­der­stand­ing on co­op­er­a­tion on civil nu­clear en­ergy use ear­lier this month, which Shu said would bring mu­tual ben­e­fits to both coun­tries.

Ac­cord­ing to Poland’s En­ergy Min­istry, the visit to China ear­lier this month was to ex­plore the pos­si­bil­ity of co­op­er­a­tion be­tween the Pol­ish and Chi­nese nu­clear sec­tors.

Poland in 2014 an­nounced plans to build two nu­clear power sta­tions with a to­tal ca­pac­ity of 6 mil­lion kilo­watts. The first unit is ex­pected to be com­pleted by the end of 2030.

The Pol­ish del­e­ga­tion vis­ited ex­ist­ing and newly con­structed nu­clear power plants, and re­search and devel­op­ment cen­ters, to ex­plore the po­ten­tial of the Chi­nese nu­clear in­dus­try, it said.

The Mem­o­ran­dum Of Un­der­stand­ing is yet more ev­i­dence that the drive by Chi­nese elec­tric power in­dus­try to di­ver­sify abroad is grad­u­ally ex­pand­ing, said Joseph Ja­co­belli, a se­nior an­a­lyst of Asian util­i­ties and in­fra­struc­ture at Bloomberg In­tel­li­gence.

“CGN’s ex­pe­ri­ence and fi­nanc­ing ca­pa­bil­ity and ca­pac­ity means the com­pany should be able to lock in one or more over­seas deals in the next few quar­ters, de­spite the fact that whether the com­pany can nail more deals in Eastern Europe is dif­fi­cult to say at this stage be­cause of the com­plex na­ture,” said Ja­co­belli.

“Nu­clear in­vest­ments take a long time to com­plete as they are more com­plex, while projects may also cre­ate lo­cal so­cial back­lashes and have se­cu­rity con­sid­er­a­tions.”

Ac­cord­ing to Ja­co­belli, CGN’s co­op­er­a­tion with the Bri­tish gov­ern­ment is more of a spring­board for the com­pany to reach other des­ti­na­tions in the Euro­pean con­ti­nent.

CGN signed an agree­ment on the Hink­ley Point C power plant with French util­ity EDF and the Bri­tish gov­ern­ment last Septem­ber, which has been hailed as a gate­way to pro­mote Chi­nese nu­clear tech­nol­ogy.

“The UK is the per­fect base from a lo­gis­tics per­spec­tive. It is a per­fect spring­board for devel­op­ment,” he said. ing in­dus­tries were lead­ing the growth of in­dus­trial sec­tors as the out­put of the two sec­tors grew by 13.9 per­cent and 10.9 per­cent re­spec­tively in the first half.

Zhu Sendi, a spe­cial con­sul­tant for the China Ma­chin­ery In­dus­try Fed­er­a­tion, said: “The man­u­fac­tur­ing sec­tor has made a great con­tri­bu­tion to the re­cov­ery of the real econ­omy. More­over, the in­te­gra­tion of man­u­fac­tur­ing sec­tor with in­ter­net, ar­ti­fi­cial in­tel­li­gence, the in­ter­net of things has deep­ened, which drives the econ­omy’s steady growth.”

Zhu added the in­dus­trial econ­omy will main­tain a growth rate of be­tween 6 per­cent and 7 per­cent in the sec­ond half.

More­over, work on cut­ting over­ca­pac­ity in the iron and steel sec­tor ac­cel­er­ated with 84.8 per­cent of the yearly ca­pac­ity-cut­ting tar­get achieved in the first five months. The task of wip­ing out out­dated steel pro­duc­tion ca­pac­ity was com­pleted at the end of June.

The coun­try aims to cur­tail steel pro­duc­tion ca­pac­ity by around 50 mil­lion met­ric tons and coal by at least 150 mil­lion tons this year.

XIN­HUA

Work­ers op­er­ate a crop­per at a work­shop of Lo­vol Heavy In­dus­try Co Ltd in Weifang, Shandong prov­ince.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.