China General Nuclear Power Group (CGN) (Chinese: 中国广核集团), formerly China Guangdong Nuclear Power Group (中国广东核电集团), is a Chinese state-owned energy corporation under the State-owned Assets Supervision and Administration Commission of the State Council (SASAC).
With CGNPC as its core enterprise, China Guangdong Nuclear Power Group (CGNPG) comprises more than twenty wholly owned or controlling subsidiaries.
[4]: 100 In 2005, Qian Zhimin was promoted to chairman and Chinese Communist Party Committee Secretary of the company.
[4]: 102 Qian also established new nuclear technology development subsidiaries and created a research institute in conjunction with China Huaneng Group and the Chinese Academy of Sciences.
[4]: 105 In May 2013, the organization changed its name to China General Nuclear Power Group (CGN) to signify that its operations extend beyond Guangdong province.
[7] In December 2014, CGN raised $3 billion by an initial public offering (IPO) in Hong Kong.
[10] In November 2015, the company and its subsidiaries agreed to acquire 1Malaysia Development Berhad's energy assets, worth around $2.3 billion.
[11] The transaction was part of the wider 1Malaysia Development Berhad scandal which resulted in billions of dollars being stolen from the Government of Malaysia and the arrest of Malaysian Prime Minister Najib Razak for corruption and fraud.
Both CGN and one of the corporation’s senior advisers, Szuhsiung Ho, have been charged with conspiring to help the Chinese government develop nuclear material in a manner that is in clear breach of US law.
In its reasoning, the United States Department of Commerce explained that CGN attempted to acquire advanced U.S. nuclear technology to divert to military uses in China".
CGN's proposals to operate two nuclear plants in the UK have received criticism from MPs as a potential threat to national security.
[27] In 2010, CGNPG announced a further design evolution to a Generation III level, the ACPR-1000, which would also replace intellectual property right-limited components from the CPR-1000.
[30] Other features include a core catcher and double containment as additional safety measures[31] and ten major technical improvements over its predecessor the CPR-1000.
It will be a more economical version using similar technology, taking a year less to build with about a quarter less in construction costs.