China’s Xi seals nuclear power deal with UK

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Chinese President Xi Jinping has sealed a multi-billion dollar deal to finance nuclear power stations in Britain.

After a day of pomp, Communist Party General Secretary Xi on Wednesday turned from pageantry to discussion of ($62 billion worth of deals with Cameron in his Downing Street residence, where the landmark nuclear deal was signed.

In the first major Chinese investment in a Western nuclear facility, China’s General Nuclear Corporation (CGN) will take a one-third stake in the planned 18 billion-pound ($28 billion) Hinkley Point nuclear plant controlled by France’s EDF.