China has shifted to the role of nuclear exporter and is targeting overseas markets with an export model centered on Hualong One. It is presented as an example of providing an integrated power system that combines domestic construction with financing and operations support.
China was long a country that “bought” energy, but in the nuclear sector it is now shifting to the role of seller, led by Hualong One, a third-generation reactor designed with exports in mind. Hualong One was integrated and standardized under state leadership from ACP1000 and ACPR1000+, with exports considered from the outset of commercial operation, alongside domestic deployment.
China is now offering more than the export of nuclear power plant equipment alone, adopting a model that bundles long-term involvement, including fuel supply, maintenance, operations support, personnel training and regulatory support. This approach is intended to give China a long-term influence over the power systems of partner countries.
At the same time, while China is following a form of cooperation similar to Russia’s nuclear business model, it is pointed out that China could wield greater influence on the strength of the world’s second-largest economy. Its strengths are said to include its track record of building, operating and accumulating experience with numerous reactors domestically, as well as providing long-term, low-interest financing through state financial institutions.
Compared with Japan, it has been pointed out that Japanese companies lost out despite possessing the technology, because they lacked the combination of financial support and state involvement. The view has been expressed that going forward, factors such as financing and the state’s commitment, in addition to technological capability, will determine competitiveness in overseas nuclear markets.