China is likely to launch a nuclear power project with one-million-kilowatt capacity in the eastern province of Zhejiang, an official with the China National Nuclear Corporation (CNNC) said.

The project is proposed by the CNNC, a state-owned nuclear energy conglomerate, to build a domestically manufactured nuclear plant of such a massive capacity.

Actually it is part of an extension project of the Qinshan nuclear power plant in east China’s Zhejiang Province.

Experts have approved a feasibility report and the central government is examining the project proposal, safety analysis of plant location, and evaluation report of the impact on environment.

“It takes us six years and more 200 million yuan (25 million U.S. dollars) to design the project,” said CNNC General Manager Kang Rixin.

China began developing its nuclear power industry in the late 1980s to help ease the energy bottleneck. In March this year, the State Council adopted a strategy to promote nuclear power capacity.

The goal is to make the nation’s total installed capacity of nuclear power reach 40 million kilowatts by 2020.

Source: Xinhua  10 December 2006

China’s gross domestic product (GDP) is estimated to exceed 20 trillion yuan (about 2.56 trillion U.S. dollars) this year, up 10.5 percent over 2005, said Ma Kai, minister of the State Development and Reform Commission (SDRC), in Beijing on Saturday.

Addressing the national development and reform working conference, Ma said that the country’s economy has been developing fast this year with good efficiency and low inflation. Stable economic operation has benefited the people and will power future development.

He said that the Chinese people have benefited well from the steady and fast economic development. The SDRC projects that newly increased job opportunities could pass 10.5 million for the whole year, exceeding the 9 million planned figure at the beginning of the year.

The per capita net income for farmers and urban residents is expected to grow by 6 percent and 11 percent, respectively. The consumer price index will rise by 1.3 percent.

In the first 11 months, the investment in fixed asset went up 26.6 percent year-on-year, with the growth rate down 4.7 percentage points from the first half of the year. Newly increased loans in September, October and November have also decreased by 125.2 billion yuan, 9.5 billion yuan and 31.5 billion yuan, respectively.

However, he warned that the basis for economic development is not solid enough, the GDP growth rate is still too fast, and the cost is too much. “It’s necessary to keep clear-headed,” Ma said.

Statistics from the National Bureau of Statistics showed that in 2005 China’s GDP hit 18 trillion yuan.

The SDRC will continue to change the country’s pattern of growth from pursuing scale and output to stressing quality and efficiency next year, by further reducing energy consumption and pollution, said Ma.

China has planned to cut its energy consumption for unit GDP from 1.22 tons of coal last year to 0.98 by 2010.

Meanwhile, Ma said the government will go on reining in fixed-asset investment and boosting consumption, which was also pledged at the 2006 Central Economic Work Conference.

The conference delegates proposed to boost the income levels and consumption of rural people and the urban poor, calling for greater attention to creating employment opportunities.

The allocation of public resources must bring people more direct benefits, and problems involving people’s immediate interests must be carefully solved, said Ma.

“We should promote social justice and stability by letting the people share the achievements of reforms,” said Ma.

Source: Xinhua  11 December 2006