The United States is lagging behind China by a staggering 15 years in the development of cutting-edge nuclear power technologies, primarily due to Beijing’s advantage in state-driven approach to technology and extensive funding, according to a report published by the Washington-based Information Technology and Innovation Foundation (ITIF).

Report informs citing the document that despite the US having the largest number of nuclear power plants and the Biden administration considering nuclear energy as a crucial factor in combating climate change, there are currently no new nuclear reactors under construction in the country.

The last two major plants in Georgia, commissioned in 2023 and 2024, exceeded their budgets by billions of dollars and were years behind schedule.

In contrast, China currently has 27 nuclear reactors under construction, with an average construction time of about seven years, significantly faster than other countries. Chinese state-owned banks offer loans with interest rates as low as 1.4%, much lower than in Western countries. This benefits China’s nuclear power industry, allowing it to dominate sectors such as renewable energy and electric vehicles.