China approves nuclear merger in Belt & Road push

Beijing is pushing forward with its SOE reforms by combining two state-owned nuclear power producers to improve efficiency and enhance competitiveness in the global market.

China approves nuclear merger in Belt & Road push

China’s State Council approved the long-awaited merger between two state-owned nuclear powerhouses on Wednesday, underscoring Beijing’s ambitions to overhaul bloated state-owned enterprises SOE for better efficiency and more sustainable growth.

In a brief message posted on its official website, the State-owned Assets Supervision and Administration Commission SASAC said it had approved the consolidation of China National Nuclear Corporation CNNC and China Nuclear Engineering Construction Corporation CNEC.

CNEC, a smaller player...

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