alt Hacker NewsChina mostly builds nuclear reactors to retain the required industrial base to maintain a military nuclear program. Nuclear power is heavily subsidized in China, as it is everywhere in the world. It might be cheaper than in the US or Europe, but its not "cheap".
The Chinese have built a small thorium reactor for research and development, and they went on to build a much larger Thorium reactor which they have refueled on the fly without taking it out of service.
I am still surprised that America hasn’t it treated it like a Sputnik moment, but we live in different times than the mid late 1950s. I think we’re waiting for the Chinese to ship it around the world like EV cars. Imagine a Thorium reactor that can be put into the bowels of a Hospital or an office building basement and supply electrical power.