British Prime Minister David Cameron and Chinese President Xi Jinping have announced a deal that will see China fund one-third of a new nuclear power station to be built in the UK.
Chinese state-owned nuclear firm CGN will pay around $10 billion to the french company EDF which is building a nuclear power plant at Hinkley Point in Somerset. The plant is set to become operational in 2025 and the British government says this will create 25 thousand jobs.
The deal with the centre point of a meeting between the two leaders in Downing Street. Mr Cameron said they also discussed the issue of human rights, cyber security and the problem of the oversupply of steel on world markets. Britain's steel industry has suffered a series of closures and job losses, which have been partly blamed on cheap Chinese steel exports.
Mr Cameron denied a suggestion from journalists that the UK has shied away from raising the issue of China's human rights record in favour of doing business.
IN: "My argument…
OUT: ….positive."
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Mr Cameron said he had raised the issue of the oversupply of steel and was given assurances China would respond to the problem.
IN: "Well let me …
OUT: ….that supply."
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Speaking through an interpreter, President Xi told reporters that the UK was not the only country facing problems in its steel industry.
IN: "The world…
OUT: ….reduce this capacity."
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Speaking through an interpreter, the Chinese leader dismissed a question about his country's human rights record, insisting Chinese citizens did enjoy appropriate freedoms.
IN: "China attaches…
OUT: ….the people."
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