Summary of Key Points
The State Council has just approved four nuclear power projects, including Zhejiang Jinqimen Phase II and Guangdong Taipingling Phase III, which involve a total of 8 units with an investment exceeding 160 billion yuan. This is a significant move by China in advancing its energy transition under the "dual carbon" goals. Nuclear power, as a clean and low-carbon energy source, has great potential for development (with a target of installing 110 million kilowatts by 2030, compared to the current 62.52 million kilowatts). Meanwhile, the global nuclear power industry is experiencing a resurgence, and China continues to approve about 10 units per year; such investments can also boost the entire upstream and downstream industrial chains. Safety is of utmost importance, and all projects must be built and operated according to the highest global standards.
1. The 8 Approved Units: 160 Billion Yuan in Investment – How Many People Will They Power?
The 8 approved units are located in four provinces: Zhejiang, Guangdong, Liaoning, and Shandong. Among them, the 2 units from Guangdong Taipingling Phase III are particularly noteworthy. Each unit of the Taipingling project can generate enough electricity to meet the annual needs of nearly 2 million people (equivalent to the annual power consumption of a medium-sized city). The entire Taipingling project plans to build 6 "Hualong One" units, with a total investment of over 120 billion yuan. Units 1 and 2 have already been commissioned and connected to the grid, while Units 3 and 4 are in the construction phase. The newly approved Units 5 and 6 are part of Phase III. With a total investment of over 160 billion yuan for all 8 units, each unit costs approximately 20 billion yuan, making these truly significant projects.
2. Why Has Nuclear Power Become the "Pillar" Under the Dual Carbon Goals?
To achieve carbon peak and carbon neutrality, it is necessary to reduce the use of fossil fuels (coal, oil, gas) and replace them with clean and low-carbon energy sources. The advantages of nuclear power are clear: it provides stable power generation (unlike wind and solar energy, which are dependent on weather conditions), and its carbon emissions are virtually zero. China's 14th Five-Year Plan explicitly states that the installed capacity of nuclear power should reach 110 million kilowatts by 2030. Currently, there is a gap of over 47 million kilowatts (equivalent to about 47 units), so more nuclear power projects are expected to be approved in the coming years at a steady pace.
3. The Global Nuclear Power Industry Is Reviving, and China Is Keeping Up
Not only China but also the rest of the world is seeing a resurgence in the nuclear power industry: global nuclear power generation reached a nearly decade-high level in 2024, and international institutions have continuously raised their forecasts for the next decade, predicting that the global installed capacity will double to 900 million kilowatts by 2050. China is approving about 10 units per year from 2022 to 2025, with another 8 approved this time, bringing the total number of approved units since 2022 to 49 and an investment of nearly one trillion yuan. By following this global trend, China is also paving the way for its own energy transition.
4. Which Industries Will Benefit from This Trillion-Yuan Investment?
The 20 billion yuan invested in each unit is not only used for building the reactors but also covers a wide range of activities across the entire industrial chain. This includes upstream activities such as nuclear fuel production and nuclear island equipment (reactor pressure vessels, steam generators), midstream components like turbines and generators, construction projects, as well as downstream services and nuclear waste management. For example, manufacturing a reactor pressure vessel requires specialized steel and large forgings, which can support the steel and machinery industries; the construction phase employs many workers and uses various materials, contributing to local employment. This investment serves as a real economic driver.
5. Safety Is the Lifeline of Nuclear Power – No Compromises Allowed
The news repeatedly emphasizes the use of the highest global safety standards and comprehensive supervision throughout the entire process. Why is this so important? Because nuclear power accidents (such as those at Chernobyl and Fukushima) can have devastating consequences. Therefore, every aspect of the project, from design to operation, must be meticulously managed using the most advanced technologies (like the multiple safety barriers of the "Hualong One" reactor). Regular equipment inspections and training for professionals are essential to ensure public trust in nuclear power and the sustainable development of the industry.
In summary, the approval of these 8 units is not only necessary for energy transition but also serves as a means to stimulate economic growth, aligning with the global trend of a reviving nuclear power industry. The key is to ensure that safety is always a top priority. For the general public, the benefits may include more stable and cleaner electricity supply, as well as increased employment and income in related industries.