BEIJING (XFN-ASIA) - China is expected to allow foreign and private domestic companies to invest in nuclear power plants, the official China Securities Journal reported, citing an official from the country's Commission of Science Technology and Industry For National Defense (COSTIND.)

The newspaper quoted Wang Yiren, head of the second Department of System Engineering of COSTIND, as saying that foreign and private domestic companies will not be allowed to hold a controlling stake in any project.

The government is revising its nuclear laws and the proposal will be subject to approval by the state council, the newspaper said.

China is expected to construct more than three new nuclear plants a year over the next decade, increasing its total installed capacity to 40 gigawatts by 2020.

ivy.cheng@xinhuafinance.com