BEIJING - The initial design of the ACP1000, China's domestically-developed advanced pressurized water nuclear reactor, passed an authoritative industry evaluation on Friday, the developer of the reactor said.

About 40 experts from relevant departments and industry associations participated in the evaluation. They concluded that the technology and safety index of the ACP1000 are on par with the world's third generation of nuclear reactors and the reactor can be completely designed and built in China.

The China National Nuclear Corporation (CNNC), the developer of the ACP1000, said it has finished a preliminary safety analysis report, and it is now working on construction design in order to have conditions ready for construction by the end of the year.

The CNNC added that it has the complete intellectual property rights for the ACP1000 reactor, which boasts a localization rate of 85 percent and a designed lifespan of 60 years. The company has already signed export contracts for the reactor.

The company said the reactor can reach the most advanced standards, as they have learned from the advanced concepts behind the world's third generation of nuclear power plants and taken lessons from the accidents that occurred when a devastating tsunami crippled Japan's Fukushima nuclear power plant in 2011.