November 27, 2018 / 10:09 AM / 6 months ago

China to end import tax exemption for advanced 2nd-gen nuclear reactors

BEIJING, Nov 27 (Reuters) - China will remove advanced second-generation nuclear reactors from import tax exemption from Jan. 1, 2019, the Ministry of Finance said in a statement on Tuesday.

Pre-allocated 2019 import quotas for tax exemption on nuclear reactors with capacities of more than 1 gigawatt to Chinese manufacturing companies will also be cancelled, the Finance Ministry said.

China has already committed itself to using advanced, safer and larger third-generation reactors, including Westinghouse’s AP1000 and Areva’s EPR, as well as its own home-grown Hualong One.

All of the 37 nuclear reactors in operation and half of the 20 reactors under construction are second or advanced-second generation, according to data from the China Nuclear Energy Association. (Reporting by Muyu Xu and David Stanway; Editing by Tom Hogue)

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