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BUSINESS & TECH

China Combines Two State-Owned Nuclear Firms Into Powerhouse

The merger of China National Nuclear Corp. and China Nuclear Engineering & Construction Corp. will create a new nuclear powerhouse with assets worth more than 600 billion yuan ($95.4 billion). Above: The construction site of CNNC’s Fuqing nuclear power station in Fujian province. Photo: Visual China
The merger of China National Nuclear Corp. and China Nuclear Engineering & Construction Corp. will create a new nuclear powerhouse with assets worth more than 600 billion yuan ($95.4 billion). Above: The construction site of CNNC’s Fuqing nuclear power station in Fujian province. Photo: Visual China

China has given the green light for two of its largest nuclear-power firms to merge as it continues to consolidate state-owned enterprises to reduce overcapacity and improve operating efficiency.

China’s state-asset regulator on Wednesday approved the proposed merger of China National Nuclear Corp. (CNNC), the country’s largest nuclear power plant developer and operator, and China Nuclear Engineering & Construction Corp. (CNECC), which builds nuclear-power plants.

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