China signed a giant nuclear contract

The US-based company Westinghouse Electric won over Russian and French rivals after a two-year rally, receiving a $ 1 billion contract to build nuclear reactors for China. This contract is expected to help improve Sino-US relations.

The agreement between the two leading energy consuming nations was achieved amid mutual criticism of many economic issues, from the value of the yuan to China's failure to buy the firm. American Unocal kerosene.

A Chinese reactor.(Photo: AP)

It also helps to confirm that China - a latecomer in the nuclear field - will be at the forefront of atomic energy use, the cleanest and cheapest source of energy in the world today.

"This agreement is an important step in our relationship, helping promote bilateral trade and energy security on both sides," US Energy Secretary Samuel Bodman said after the memorandum of signing. with Mr. Ma Khai, chairman of China's National Development and Reform Commission.

Bodman said the contract would help rebalance the trade balance and create more than 5,500 jobs. Last year, the US trade deficit with China was at a record $ 202 billion.

China, now the world's second-largest energy consumer, is trying to boost nuclear power - currently accounting for only 2.3% of total electricity consumption. For comparison, this figure is 75% for France and 25% for Japan.

Beijing will spend $ 50 billion to build about 30 nuclear reactors from now to 2020, to increase the share to 4%. There are currently 9 active reactors in the country.

T. Huyen