The chancellor George Osborne will sign a deal in China allowing a state-owned Chinese company to build new nuclear power stations in the UK and have its reactor design approved by British regulators.
Under the deal, the UK government will give its backing to Chinese General Nuclear Power Group (CGN) entering EDF Energy’s planned new nuclear plant at Hinkley Point in Somerset as a co-investor.
The memorandum of understanding will also see Britain backing CGN’s plans to build a new nuclear reactor in the UK and play a “supporting role” in operating it, according to people familiar with the matter.
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