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FUZHOU, June 17 -- China is promoting its own third generation reactor design, Hualong One technology, which will have to compete with third-generation designs from the Untied States, France and Russia for a lucrative global market.

At a promotion event on Tuesday in Fuqing City of southeast China's Fujian Province, the location of a planned pilot nuclear power project that uses the technology, China National Nuclear Corporation (CNNC) said it was optimistic of the technology's prospects.

"Hualong One is a fine example of China's innovation and is based on decades of experience in the nuclear industry," said Yu Peigen, CNNC deputy general manager.

"It can fully meet international safety standards and third-generation nuclear power technology function demand," said Yu.

Yu said nuclear power would play an important role in China's international cooperation.

There are 66 nuclear power reactors under construction globally, 24 of which are in China, said Francois Morin, the China director of the World Nuclear Association.

In terms of the international market, China is the engine of growth, said Morin, adding that Hualong One will have enormous business opportunities with its successes in China.

Clive White, clean energy department president at British nuclear service company AMEC, said he will watch Hualong One's construction and operation in China.

He said China's nuclear technology has made new progress but it still needs to be tested by international market standards in the future.

About 200 experts from Britain, America, France, Sudan and the Arab League attended the promotion event.

China began construction on the pilot nuclear power project in Fuqing City in May.