China disapproves of British Steel nationalisation decision by UK
Officials said the move will keep steelmaking at Scunthorpe and protect 1,000 jobs as the plant shifts to public ownership.
- On Thursday, the Government brought British Steel under public ownership to protect 'the future of steel production' at the company's Scunthorpe, Lincolnshire site, following the Steel Industry Act 2026.
- Previously owned by Jingye Group, the company faced potential closures of its Scunthorpe blast furnaces before a new leadership team was appointed to transform it into a 'commercially sustainable, low-carbon enterprise.'
- Prime Minister Sir Keir Starmer said 'British Steel is part of the fabric of our nation and a cornerstone of Britain's industrial strength,' emphasizing the decision protects skilled jobs and vital national capability.
- China's Ministry of Commerce expressed it is 'strongly dissatisfied,' stating the move 'dealt a severe blow to Chinese companies' confidence in investing in Britain' and that the British 'forcibly' took control.
- Urging Britain to 'abide by relevant international rules,' the Chinese ministry stated it will closely monitor developments to ensure the Government fulfils obligations under the China-UK Investment Protection Agreement.
38 Articles
38 Articles
China reacted sharply on Friday to the British government's decision to nationalize British Steel, calling the move a violation of the rights of Chinese owner Jingye Group and warning of the impact on Chinese investor confidence in the United Kingdom. The British government announced on Thursday that the nationalization was to protect thousands of jobs and preserve strategically important capacity in the British steel industry.
China Condemns UK Nationalization of British Steel, Says Move Violates Investor Rights
Beijing's Ministry of Commerce said the formal transfer of British Steel to public ownership on July 16 violated the China-UK Investment Protection Agreement and damaged Chinese investor confidence in the UK
China "firmly opposes" the nationalization of steelmaker British Steel decided by the British government, it said on Friday, July 17, urging the United Kingdom to "respect international rules".
China stated on Friday (17) that it strongly opposes and strongly disapprove of the UK's decision to nationalise British Steel and called for fair treatment for Chinese companies in the country. The UK nationalized British Steel on Thursday, taking full control of the deficit company that formerly belonged to the Chinese steel company Jingye, in an effort to protect the future of steel production in the country. The UK government took over the c…
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