In 2013, the British government gave go ahead to Chinese companies taking a stake in the UK’s nuclear power. Chancellor George Osborne added that Chinese companies could even take future majority stakes in the development of UK nuclear power’s next generation.
Put forward as “the next big step” in the UK-China relationship, the partnership received a decisive momentum with a landmark deal agreed on September 21, 2015. The British government brought a new guarantee up to £2 billion for the flagship project of the Hinkley Point nuclear power station with the involvement of China General Nuclear Corporation (CGN) along with France’s EDF which is to provide “reliable, affordable energy to nearly 6 million homes and creating more than 25,000 jobs,” said British Prime Minister David Cameron.
Also, the two countries joined forces on the co-funding of a £50 million UK-headquartered nuclear research center. With such developments ongoing, “China and the UK are increasingly becoming an interdependent community of shared interests,” said Chinese leader Xi Jinping.