The Chancellor, George Osborne, has announced that the UK will allow Chinese companies to take a stake in British nuclear power plants.
The decision could lead to China taking a future majority stake in the development of the next generation of British nuclear power.
A Chinese company will be part of a group investing £800m in Manchester Airport to develop its surrounding business.
The news was announced as Chancellor George Osborne started a trip to China to promote UK business and encourage Chinese investors to consider the UK.
Nuclear regulators have signed an agreement marking the start of plans to build new reactors in north Wales.
The deal clears the way for Horizon Nuclear Power to submit initial proposals for a new power station at Wylfa on Anglesey.
Horizon's owner Hitachi wants to build new Advanced Boiling Water Reactors (ABWRs) in the UK, including at Wylfa.
ABWR plants are in operation at four sites in Japan, but have yet to be approved in Britain.
The agreement between the Office for Nuclear Regulation (ONR) and Horizon will be seen as one of the first concrete milestones on the long road to building a new nuclear plant on Anglesey, and at Oldbury in Gloucestershire.
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We are very pleased to have made such swift progress over the recent months”
Ken Sato, Hitachi Europe
It signals the start of the technical process known as the generic assessment design (GDA), which makes a detailed examination of all aspects surrounding nuclear reactors. The review of the designs and final licensing could take several years.