Premier Li’s praise for Hualong pushes stocks up

Source:Global Times Published: 2017/5/27 0:38:39

A dome that weighs 340 tons is being installed on Thursday at the No.5 unit of Fuqing nuclear power plant, the first reactor that features the Hualong One design, in Fuqing, East China's Fujian Province. Photo: CFP


 

China's nuclear power stocks surged on Friday morning after Chinese Premier Li Keqiang praised the country's third-generation nuclear reactor Hualong One.

Li called Hualong One a "landmark project" in the Made in China 2025 plan, according to a statement posted on China's government website Friday.

He also said that the project has significant meaning, and that absolute safety should be guaranteed for both the construction and management of nuclear power plants.

Shares of China Nuclear E&C Group surged by 6.51 percent in morning trading Friday. Shares of CNNC SUFA Technology Industry Co also rose by 4.03 percent.

The Stock price of China Nuclear E&C Group leveled at 11.75 yuan ($1.7), a 4.72 percent increase, while that of CNNC SUFA Technology Industry Co increased by 3.07 percent to 20.48 yuan when the stock market closed Friday afternoon.

According to Li, innovative resources should be developed using the Internet Plus initiative as well as the numerous entrepreneurship platforms to enhance the standard of research and manufacturing of nuclear power.

He also noted that China should actively participate in the international market and strive to create a world-class nuclear power brand.

A 340 ton hemispherical dome was installed Thursday on the No.5 unit of Fuqing nuclear power plant,  the first reactor featuring the Hualong One design, in East China's Fujian Province, the Xinhua News Agency reported.

The installation marks the completion of the construction stage of the pilot project and the beginning of the assembly stage, Xinhua said.

The construction of Hualong One, whose intellectual property is wholly owned by China, started in Fuqing in May 2015.

Apart from China, only three other countries - the US, Russia and France - own technologies of third-generation nuclear power, according to Xinhua.



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