Fusion will face much the same amount of red tape without changes to the law. Doesn't matter that it is safer, it's "nuclear" which is what most laws target.
https://www.gov.uk/government/news/uk-set-to-be-first-countr...
And I'd be willing to bet that China won't put up unnecessary barriers.
In one case the US army had people manually lifting control rods on a dead simple reactor, someone messed up and the SL-1 melted down killing 3 people. Dig into thing and you can find well over a dozen reactors that melted down and many others that suffered significant damage from one mistake or another. So, now everyone builds and maintains redundant safety systems, but that simply isn’t free.
It isn’t any one thing keeping costs high. I was personally hopeful the Advanced CANDU reactor would drive down costs by avoiding expensive enrichment, but apparently it was overall more expensive.
PS: Number I saw per pound was between 1/8th and 1/30th the energy. Though that may not be up to date.
There is no physical possibility of Tokamak fusion power being cheaper than the most expensive method in current use anywhere.
Because it has to be so big, it has to be very expensive, several times as much as a fission plant. And, take much longer to build. That much money with no expectation for any power delivered for many years is catnip for the corrupt, as for any big-ticket public works item where the costs of components are far from obvious. (Cf. NASA STS and SLS, Boston's "Big Dig", California's "Bullet Train to Nowhere", F-35, New York's 2nd Ave subway.)
Fusion will also be complex and must also be highly reliable -- not because of public safety, but because repairing a fusion reactor will be very difficult. It will be far too radioactive for contact maintenance.