China disapproves of British Steel nationalisation decision by UK
The government said the takeover will secure 2,700 jobs and keep the country’s last primary steelmaking site supplying rail, construction and defense industries.
- The United Kingdom nationalised British Steel on July 16, 2026, to protect national interests and preserve the only primary steelmaking source in the UK, supporting about 2,700 jobs at its Scunthorpe steelworks and across its supply chain.
- British Steel was purchased by Jingye in 2020 for £70 million, but the company was losing £700,000 daily by 2025, which led to UK government intervention earlier that year, including seizing operational control in April 2025.
- China's Ministry of Commerce condemned the UK's nationalisation as an expropriation that seriously damaged Jingye's rights and undermined Chinese companies' confidence in UK investments.
- China urged the UK to comply with the China-UK Investment Protection Agreement and stated it would support Chinese companies in defending their rights after the takeover.
39 Articles
39 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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