The State Nuclear Power Technology Company, which was established by China’s State Council and the country’s four major government corporations, including China National Nuclear Corporation, is assigned to introduce and develop third-generation nuclear technology.

Wang Binghua, the president of the new corporation, said at a launch ceremony that the company was close to completing negotiations with the U.S.-based Westinghouse Electric on the introduction of third-generation nuclear technologies in the country.

Westinghouse, France’s Areva and Russia’s Atomstroyexport are the main foreign players on the Chinese nuclear power market.