China Approves 8 Nuclear Power Units with Total Investment Exceeding 170 Billion Yuan
Claire Weston
China's State Council on July 31 greenlit four nuclear projects totalling 8 new reactors with combined investment above ¥170 billion — the fourth straight year of large-scale approvals, signalling that nuclear buildout has shifted from case-by-case decisions to an industrial conveyor belt.
Which projects got the nod — and who won?
Four projects across four provinces: Zhejiang Jinqimen Phase II (units 3–4), Guangdong Taipingling Phase III (units 5–6), Liaoning Zhuanghe Phase I (units 1–2), and Shandong Laiyang Phase I (units 1–2).
All three state nuclear giants — CNNC, CGN, and SPIC — received approvals. This means → Beijing is deliberately rotating orders across the trio, keeping the supply chain balanced.
Jinqimen's shareholder roster includes private firms such as Youngor Group and an Alibaba-affiliated entity — a rare case of private capital entering nuclear.
What is "Hualong One 2.0" — and why does it matter?
Hualong One — China's home-grown Gen-III reactor design — already has multiple units running. Version 2.0 is the upgrade, debuting at Jinqimen Phase II and Taipingling Phase III.
CGN chairman Yang Changli says the 2.0 is "safer, faster to build, and more economical." CNNC adds it will use modular construction and AI-driven digital tools.
In plain terms = a nuclear plant costs tens of billions of yuan; every month shaved off the build saves enormous financing costs. Whether 2.0 delivers on "faster and cheaper" will be proven — or disproven — at these two sites.
Why could Laiyang become China's largest nuclear base?
Shandong Laiyang Phase I plans 6 Guohe One reactors with total investment of ¥128.3 billion — the starting point for batch production of Guohe One, a high-power Gen-III design China developed after absorbing Westinghouse's AP1000 technology.
A single Guohe One unit generates 1,534 MW, making it the world's most powerful passive-safety reactor. This means → unit-for-unit, it produces roughly 20% more electricity than Hualong One.
The demonstration first unit began commercial operation at Rongcheng, Shandong, in December 2024. Once all six Laiyang units are complete, the site will be China's largest nuclear base by installed capacity.
Zhuanghe — what does a sixteen-year wait reveal?
Zhuanghe Nuclear began site selection in 2006 and took roughly sixteen years of preparatory work before approval. This reflects the extraordinarily high bar — and long timeline — for nuclear site permits in China.
The project is a joint venture between CNNC and Datang Group, marking Datang's third nuclear stake after Ningde and Xudabao. A traditional coal-power giant is steadily pivoting to nuclear.
Zhuanghe is Liaoning's third nuclear base after Hongyanhe and Xudabao. In plain terms = northeast China's grid is transitioning from coal dependence toward nuclear as a baseload replacement.
What about safety — and what comes next?
The State Council simultaneously stressed building and operating reactors "to the world's highest safety standards," demanding full-chain, all-domain safety oversight to "ensure absolute safety."
Since 2022 China has approved 10 or more reactors every year for four consecutive years. This means → nuclear permitting has moved from a "policy window" to an institutional norm — expect fresh batches annually.
The single most important milestone to watch: actual construction timelines and cost data from Hualong One 2.0's debut at Jinqimen and Taipingling — that will determine whether the 2.0 design can be replicated at scale.
Content is for reference only, not financial advice.