8/16, 7:04 AM (Source: TeleTrader)
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Chinese media slams US for blacklisting state nuclear power firm

Chinese state media slammed the United States on Friday for blacklisting the country's largest nuclear power company, China General Nuclear Power Group (CGN), claiming the motive for the move was to hinder China's economic growth.

According to China Daily, Washington's claim that CGN and its subsidiaries "engaged in or enabled efforts to acquire advanced U.S. nuclear technology and material for diversion to military uses in China" was "just an excuse" to add the company to the so-called entity list, which identifies entities the US sees as a threat to its national security. "The real aim is to try to thwart the country’s ‘Made in China 2025’ initiative that seeks to let Chinese manufacturing move up the value chain, and thus contain its growth," the media outlet said.

On Wednesday, the US Commerce Department placed CGN on the entity list, banning American companies from selling products to the Chinese state-owned firm.

Breaking the News / NP