China National Nuclear Corporation

The China National Nuclear Corporation (CNNC; Chinese: 中国核工业集团公司; pinyin: Zhōngguó Hé Gōngyè Jítuán Gōngsī) is a state-owned enterprise founded in 1955 in Beijing.

[citation needed] It functioned as a government bureau for the national nuclear industry and reported directly to the State Council.

[11] Kang Rixin, a senior general manager is currently being investigated (as of August 10, 2009) for $260 million that was earmarked for the construction of three nuclear plants and allegedly used the funds for the stock market sustaining heavy losses.

He is also accused of accepting bribes from a foreign company that intended to build nuclear power stations in China.

[1] In June 2015, CNNC announced it would aim to raise 13.19 billion Chinese yuan in an initial public offering, that if successful, would be the largest in China in almost four years previously.

[14] In September 2015, CNNC signed a memorandum of understanding with Bill Gates-backed TerraPower for the construction of a traveling wave reactor.

[15] In September, CNNC announced a project with the UK's National Nuclear Laboratory to create the Joint Research and Innovation Centre.

In 2013, China announced that it had independently developed the Generation III ACP-1000, with Chinese authorities claiming full intellectual property rights over the design.

[33] In September 2016 it was announced that SNC-Lavalin has signed an agreement in principle with CNNC and the Shanghai Electric Group to design, market and build the advanced CANDU reactor.

It is well suited for the existing centralised heating systems of northern Chinese cities, currently often coal fueled.

[37] In July 2019, CNNC announced it would start building a demonstration ACP100 small modular reactor on the north-west side of the existing Changjiang Nuclear Power Plant by the end of the year.

It will be a fully integrated reactor module with an internal coolant system, with a 2-year refueling interval, producing 385 MWt and about 125 MWe.

[40] The beginning of the installation phase was announced in December 2022;[41] by March 2023, the main internal structure of the reactor building was completed.