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.
CNNC completed the third phase of Pakistan's Chashma nuclear project in 2016.
CNNC completed the third phase of Pakistan's Chashma nuclear project in 2016.

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 which engages in engineering and construction of nuclear facilities, will be incorporated into CNNC, a mega corporation that oversees the country’s civilian and military nuclear programmes. The merger will be a direct transfer of...

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