First nuclear plant unit using Hualong One reactor in Yangtze River Delta completes hot functional test

The first nuclear power plant unit equipped with Hualong One, China's domestically designed third-generation nuclear reactors, in east China's Yangtze River Delta on Tuesday completed hot functional test, laying a solid foundation for the nuclear facility's subsequent construction and entry into operation, according to the China General Nuclear Power Corporation (CGN).

Located in Cangnan County, Wenzhou City of Zhejiang Province, the San'ao nuclear power plant is home to the first project equipped with Hualong One reactors in the Yangtze River Delta.

The CGN, constructor of the power plant, said on Tuesday that its Unit 1 has undergone the hot functional test involving a series of debugging, individual system verification and comprehensive performance evaluations.

The hot functional test is conducted before the loading of nuclear fuel. Its purpose is to comprehensively verify the reliability of the nuclear island and conventional island equipment and systems under conditions that closely simulate actual operating conditions of the nuclear power plant. This test serves as a significant assessment before the plant officially begins power generation, ensuring that all relevant parameters meet the design requirements.

"This test involves a series of debugging, individual system verification and comprehensive performance evaluations, fully validating the reliability and response levels of systems and equipment in both the nuclear island and conventional island. Moving forward, we will continue to advance according to plan, initiating fuel loading and connecting Unit 1 to the power grid," said Li Xinghua, manager of the operation department of CGN Cangnan Nuclear Power Co., Ltd.

Designed to house six Hualong One nuclear power generator sets, the San'ao nuclear power plant is expected to provide over 54 billion kilowatt-hours of clean energy annually for Zhejiang and even the entire Yangtze River Delta region upon completion.

The power plant will contribute to the reduction of standard coal consumption by more than 16 million tons and carbon emission by over 44 million tonnes each year, which is equivalent to afforestation of 110,000 hectares.

First nuclear plant unit using Hualong One reactor in Yangtze River Delta completes hot functional test

The Central Bank of Egypt (CBE) on Thursday lowered its key interest rates by 100 basis points, or 1 percent, the CBE reported.

The CBE said in a statement that its Monetary Policy Committee (MPC) decided to cut the deposit rate to 20 percent, the lending rate to 21 percent, and the rate of the main operation to 20.5 percent, while also reducing the discount rate to 20.5 percent.

"This decision reflects the committee's updated assessment of inflation dynamics and outlook since the previous MPC meeting," it said.

According to an earlier CBE report, annual urban headline inflation in Egypt eased slightly to 12.3 percent in November, down from 12.5 percent in October, driven by a slowdown in food price inflation, which declined to 0.7 percent in November from 1.5 percent a month earlier.

This marks the fifth interest rate cut by Egypt's central bank so far this year.

Egypt cuts key interest rates by 1 pct as inflation slightly down