Fine China Nuclear Technology Exports to the World
As of August 2024, saw the consent of China nuclear technology for the construction of five additional nuclear plants increasing its energy sector expanding its strategy and taking its economy into consideration.
In the midst of the global financial unemployment crisis, that hit the highest level in the past six months at 5.3 percent and urban youth unemployment for July previously 13% increased by 4 to 17.1%.
What China Must Overcome
During the second quarter of 2024, China had completed the construction of 56 nuclear electric generating units producing over 212.3 billion kWh of energy generation only from its coastal areas.
Currently, nuclear energy production is 5% of total energy in China nuclear power industry while coal accounts for almost 70%. But with approval given this year for five new nuclear plants and 11 more reactors, China is also well and truly positioning itself to be a leader in global nuclear energy development.
China now ranks as the second country in the world in terms of China developing new nuclear technology generation, surpassed only by the United States, while France is in third position, according to the International Atomic Energy Agency.
Nuclear technology in China is programmed as the cardinal element in the energy transition process of the country, as said in a recent white paper published in China, highlighting that “high-quality, efficient, and clean energy” solution, according to the Chinese government.
Central to China nuclear technology ambitions are third-generation reactors its companies have designed and built domestically, such as the HPR1000, with 90% localization. The first started operations in 2020, while more are planned for provinces like Guangdong and Fujian.
Economic Relief or Risk?
China is not only expanding nuclear energy at home, but it is also working hard to export its nuclear technology abroad.
The HPR1000 reactor is already operating in Pakistan, and deployments are under way in Argentina. In 2022, the United Kingdom approved the HPR1000 design likely to boost the global confidence in Chinese nuclear technology.
The nuclear expansion comes at a time when China is fighting strong economic headwinds. A slowing economy has created concerns that nuclear energy investments will produce an expected economic payment. On one hand, exports of China nuclear technology could bring revenue and much needed jobs in high-tech sectors, these are projects that are capital intensive and fraught with political risks, especially at a time when China deals with complex international relations.
China’s nuclear ambitions can be viewed on a positive level, as there are some economic relaxations, but it also brings new challenges that the nation has to manage smartly so that the economic slowdown is not further aggravated.
There are certain risks due to the seriousness to the China nuclear technology program but in the long run, it could either boost its economy or just increase its economic dip and this could all be affected by the geopolitical tensions that are taking place between China and the US. At this moment, the race for nuclear energy is not over, and it will take some time to see if the same can be achieved by China and not have the world view it as China steals US nuclear technology to destroy the world.
Inside Telecom provides you with an extensive list of content covering all aspects of the tech industry. Keep an eye on our Tech sections to stay informed and up-to-date with our daily articles.