[Snap] China suspends nuclear plants

China announced on Wednesday that it would suspend approvals for any new nuclear power plants in light of the disaster in Japan. In a statement the State Council said it would suspend approval of nuclear power projects, including those currently in preliminary stages of development.

While confirming there were no abnormal levels of radiation in China from Japan, the announcement signifies a change in tone from that taken by China’s energy chief on Monday, when he was busy advocating the importance of nuclear energy for China’s future energy needs.

The statement, posted on the central government website, was published after a State Council meeting with Premier Wen Jiabao. The statement said its was freezing approvals  because:

We must fully understand the importance and urgency of nuclear safety, and development of nuclear power must make safety the top priority.

Over the past few years the central government has worked hard to speed up project approvals. China plans to build a total of 40GW of nuclear energy capacity over the next five years as it tries to move away from a dependence on energy from coal. It has plans to create 28 nuclear reactors, all of which are alreadly currently under construction, according to Reuters.

Global equities macromap

Number of the day

12.4% Fall in Mail.Ru shares on Monday, on the back of its Facebook stake.

beyondbrics

The emerging markets hub

About this blog Headlines email Blog guide
News and comment from more than 40 emerging economies, headed by Brazil, Russia, India and China.



'Like' our beyondbrics Facebook page, where we showcase a top story of the day
Sign up for our news headlines and markets snaphot service. We have two emails per day - London and New York headlines (sent at approx 6am and 12pm GMT).

To comment, please register for free with FT.com and read our policy on submitting comments.

There is an overall beyondbrics RSS feed, as well as feeds for all our countries, tags and authors. Learn more in our full RSS guide.

All posts are published in UK time.

Get in touch with us - your comments, advice and even complaints. Find out how to contact the team.

See the full list of FT blogs.

BB shortcuts

Regulars Series Archive
Chart of the week
Behind the numbers

Fund flows
Tracking money in and out of EM bonds
12 for 2012
Guest posts on key trends for the year ahead

Brics at 10
A decade of growth
The Diaspora Digest
EM diasporas, seen through their community media (Oct-Nov 2011)
Sick brics (Sep 2011)
Brics and mortar (Aug 2011)
Beyondbrics on the beach (Jul-Aug 2011)
China bubble? (June 2011)
Post-election Nigeria (June 2011)
Hey bric spender (Aug 2010)

Emerging markets data

Archive

« Feb Apr »March 2011
M T W T F S S
 123456
78910111213
14151617181920
21222324252627
28293031  

What we are writing about

Apple banking bonds Brazil economy Brics CEE China economy consumer corruption currencies currency war debt energy EPFR equities eurozone crisis food & drink guest post Hugo Chávez IMF India economy inflation interest rates internet investment IPOs M&A manufacturing mining monetary policy oil & gas PMI politics Repsol retail Russian elections Russian politics tax technology telecoms trade vehicles video World Bank YPF