- 10 updates
Chancellor George Osborne has defended his backing for Chinese investment in Britain's nuclear power industry, saying that it will have economic benefits for Britain.
He told ITV News' Political Editor Tom Bradby that China is "no longer a sweat shop in Asia" and that the UK should be expanding trade links.
The chairman of the Nuclear Industry Association, Lord Hutton, has welcomed the agreement between Britain and China to cooperate on nuclear power:
The Department of Energy and Climate Change (DECC) has issued this statement following the Chancellor's announcement that he is "paving the way" for Chinese investment in British nuclear power plants, including potentially the one at Hinkley Point:
Friends of the Earth director of policy and campaigns Craig Bennett said the nuclear power agreement with Chinese investors was "a bad deal for taxpayers".
Mr Bennett said:
Chancellor George Osborne said Chinese investment in British nuclear power delivers "a good deal".
Speaking during a visit to a nuclear power station in Taishan, China, Mr Osborne said: "We're delivering a good deal for the British taxpayer and we're going to make sure of course that the very stringent British rules on safety are applied.
"The Chinese investment in British nuclear power means British taxpayers' money can be used instead for building schools and hospitals and in the long-term British families get lower and more stable energy bills."
Energy Secretary Ed Davey called the go ahead for China's involvement in Britain's nuclear power stations "an exciting development".
Mr Davey said it would lead to "strengthening our relationship with China in a way that will benefit both countries."
"Investment from Chinese companies in the UK electricity market is welcome, providing they can meet our stringent regulatory and safety requirements," he added.
Chancellor George Osborne said the Government's decision to encourage Chinese firms to help develop nuclear power stations in the UK is "good for the taxpayer".
Mr Osborne wrote on Twitter:
Chancellor George Osborne has announced that the government is to give the go ahead to Chinese firms taking a stake in the development of the next generation of British nuclear power.
He made the announcement at Taishan nuclear power station in Southern China on the final day of his visit to China.
The Chancellor said: "Today is another demonstration of the next big step in the relationship between Britain and China - the world's oldest civil nuclear power and the world's fastest growing civil nuclear power.
"It is an important potential part of the government's plan for developing the next generation of nuclear power in Britain. It means the potential of more investment and jobs in Britain, and lower long-term energy costs for consumers."
Latest ITV News reports
The Chancellor's agreement with China opens the door to investment in Britain's new generation of nuclear power plants, but at what cost?
The Chancellor has given formal Government approval for Chinese state-run firms to buy into British nuclear power - should we be worried?