Research by the Washington-based Information Technology & Innovation Foundation shows that China has 27 nuclear reactors under construction with an average construction time of about 7 years, much faster than other countries.

“China’s rapid deployment of ever more advanced nuclear power plants will generate significant economic efficiencies and learning-by-doing opportunities, and it suggests that Chinese companies will gain an advantage from increased innovation in the sector in the future,” the report said.

The United States has the world's largest fleet of nuclear power plants. President Joe Biden's administration sees near-zero-emissions electricity as crucial to curbing climate change.

But after two massive plants in Georgia came online in 2023 and 2024, costing billions of dollars over budget and suffering years of delays, no U.S. nuclear reactors have been built. A high-tech plant planned at a U.S. lab was canceled last year.

Meanwhile, China’s state-owned banks can offer loans at interest rates as low as 1.4%, far below those in Western economies. China’s nuclear power industry has benefited from sustained state support and localization strategies that have allowed China to dominate areas such as renewable energy and electric vehicles.

The world's first fourth-generation high-temperature gas-cooled reactor at Shidao Bay in Shandong Province went into operation last December. The China Nuclear Energy Association said the project involved the development of more than 2,200 sets of "world-first equipment" with a total localization rate of domestically produced materials of 93.4%.

Proponents of high-tech reactors say they are safer and more efficient than current plants, while critics say some new reactors pose weapons and material proliferation risks.

Not everything has been smooth sailing for China. The China Nuclear Energy Association has warned that there is a serious overcapacity in nuclear component production, as well as “excessive competition” that is driving down prices and causing losses.

If the United States is serious about nuclear, it should develop a strong national strategy that includes more investment in research and development, identifying and accelerating potential technologies, and supporting the development of a highly skilled workforce, said report author Stephen Ezell.

Hoai Phuong (according to Reuters)