China General Nuclear Power Corporation

US President Joe Biden is set to ban Americans from investing in dozens of Chinese tech and defence firms with alleged military ties.

The new executive order will come into effect on 2 August, hitting 59 firms including communications giant Huawei. The list of firms will be updated on a rolling basis.

It expands an order previously issued by former President Donald Trump.

The Romanian government on Tuesday asked the state company Nuclearelectrica, which runs the nuclear power plant in Cernavoda, to terminate negotiations with its Chinese partner China General Nuclear Power Corporation, GCNPC, on the construction of nuclear reactors 3 and 4 at Cernavoda. 

France and China will set up a fund for joint investment in overseas projects, France's foreign minister said on Oct. 31, as China's voracious appetite for overseas acquisitions continues to grow despite some recent stumbles in overseas markets. 

"This is in important project for Romania. Next month will we sign the agreement for setting up a joint company with a Chinese partner, a company which will build up two new reactors at the Cernavoda plant," Romanian Energy Minister Andrei Gerea said on Friday. 

The Chinese return to Romania to talk about the Cernavoda nuclear power plant units, after they were back to China to celebrate the wooden goat, Energy minister Andrei Gerea declared on Tuesday in the Senate's Transports and Energy Committee.

Photo credit: (c) Alex TUDOR / AGERPRES ARCHIVE

Nuclearelectrica, the company that runs Romania's sole nuclear power plant, located in Cernavoda, has chosen China General Nuclear Power Corporation (CGN) as its investor for the development of two new nuclear reactors.

The project is worth of some 6.5 billion euro, according to company sources.

China Nuclear Power Corporation is the only company that has submitted an offer to participate in the tender organised by the Romanian state for the construction of reactors 3 and 4 of the Cernavoda nuclear plant (southeastern Romania), the general manager of the National Company Nuclearelectrica, Daniela Lulache, announced on Tuesday.