On 7th July, reports emerged that the British government may review China’s involvement in the country’s nuclear energy sector. The review will be conducted under a new legislation on the national security implications of investment.
In an interview with BBC Radio 4’s Today programme, Alok Sharma, the business secretary said,
“We will look at all investments that are made in the UK, we will look at that against the criteria we have set out in the Enterprise Act. That will be set out in the National Security Investment Bill, and that will be for all investments that are made rather than picking and choosing individual countries.
“I don’t think there is any inconsistency in welcoming inward investment and at the same time standing up for the UK’s values and interests and our security.”
China General Nuclear Power Group (CGN), a state-owned Chinese energy company, has invested more than £3.8 billion in Britain, primarily in the Hinkley Point C plant under construction in Somerset according to The Times. CGN is also seeking approval to build its own design of nuclear reactor at Bradwell in Essex. Sir Iain Duncan Smith, former leader of the Conservatives, said he supported “a campaign for zero” participation by Chinese companies in Britain’s critical energy infrastructure.
The government had pledged to introduce a new national security investment law in the Queen’s Speech last December. Now, in light of national laws imposed in Hong Kong, the UK is more precarious of attracting further Chinese investments in the UK.
