This article is outdated. Please update this article to reflect recent events or newly available information.(September 2013)
The China National Nuclear Corporation (CNNC; Chinese: 中国核工业集团公司) was established on 16 September 1988 by a Government of China decree. CNNC's president and vice-president are appointed by the Premier of the State Council. However the CNNC is a self-supporting economic corporation, not a government administrative body. It oversees all aspects of China's civilian and military nuclear programs. According to it own mission statement, it "combines military nuclear weapons production with civilian production, taking nuclear industry as the basis while developing nuclear power and promoting a diversified economy." CNNC is a nationwide industrial conglomerate integrating science, technology, industry, and international trade.
In 1996, the Export-Import Bank of the United States --- the official export credit agency of the United States federal government --- made a $120 million low-interest loan to the China National Nuclear Power Corporation (CNNP).
The CNNC is the successor to the Ministry of Nuclear Industry which built China's first atom bomb, hydrogen bomb and nuclear submarine. It functioned as a government bureau for the national nuclear industry and reported directly to the State Council. It oversaw China's nuclear-related corporations, manufacturers, institutions, research institutes, and plants, including those related to nuclear weapons. It was responsible for the design and operation of nuclear power plants; nuclear fuel production and supply, including the processing of natural uranium, uranium conversion and enrichment, fuel assembly fabrication, spent fuel reprocessing, and nuclear waste disposal.
Kang Rixin, a senior general manager is currently being investigated (as of August 10, 2009) for $260 million that was earmarked for the construction of three nuclear plants and allegedly used the funds for the stock market sustaining heavy losses. He is also accused of accepting bribes from a foreign company that intended to build nuclear power stations in China.
Since 2011 CNNC has been progressively merging its ACP1000 nuclear power station design with the China General Nuclear Power Group (CGNPG) ACPR1000 design, while allowing some differences, under direction of the Chinese nuclear regulator. Both are three-loop designs originally based on the same French design, but now have different nuclear cores. The first two ACP1000s will be built at Fuqing Nuclear Power Plant.