US EditionUK will set 'high trust bar' for future Chinese investment after British Steel rescue, minister says
- The UK business secretary said Chinese companies will have to clear a 'high trust bar' for investing in key sectors after taking control of Britain's last remaining blast furnace steel plant from its Chinese owner.
- The UK government took control of the British Steel plant to prevent the closure of its blast furnaces and maintain the UK's ability to make steel from raw materials.
- The business secretary said the Chinese owner, Jingye Group, had intended to close the blast furnaces regardless of government offers, while keeping more profitable operations supplied from China.
33 Articles
33 Articles
Chinese firms face UK critical industry ban after nearly killing British Steel
CHINESE firms could be locked out of critical industries after almost killing off British Steel. The Business Secretary said there is now a “high trust bar” for Beijing firms to buy into sensitive sectors. GettyChinese firms could be locked out of critical industries after almost killing off British Steel[/caption] AlamyBusiness Secretary Jonathan Reynolds has all but ruled out another Chinese firm taking over after Jingye came close to shutti…
Associated Press News
UK will set 'high trust bar' for future Chinese investment after British Steel rescue, minister says
Chinese companies will have to clear a “high trust bar” when investing in key sectors in the U.K., the country’s business secretary said after he took effective control of Britain’s last remaining factory that makes steel from scratch from its Chinese owners.
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