China criticizes UK's nationalization of British Steel

China has expressed strong opposition and deep dissatisfaction with the UK government's decision to nationalize British Steel, asserting that the move "seriously infringes upon Jingye's legitimate rights and interests." The British government, however, justified the decision, stating it was necessary to protect jobs and preserve a "vital national capability."

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firmly opposes and is strongly dissatisfied with the British government's decision

The UK government took control of British Steel's operations in Scunthorpe last year. Despite this, the company remained under the ownership of China's Jingye Group, which limited the UK's ability to direct its future. The nationalization represents a significant intervention by the British state.

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protect jobs and safeguard a 'vital national capability'

Beijing's commerce ministry argued that the UK's actions "severely undermined the confidence of Chinese companies investing in the UK." China called on Britain to "faithfully fulfil" its obligations under the China–UK Bilateral Investment Treaty. The ministry criticized the UK for disregarding Jingye's contributions to the British economy and society.

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seriously infringed upon Jingye's legitimate rights and interests and severely undermined the confidence of Chinese companies investing in the UK

Beijing stated it would closely monitor the situation and support Chinese firms in protecting their rights, though specific actions were not detailed. This decision risks straining diplomatic and economic ties between London and Beijing, particularly as a new UK prime minister is set to take office.

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faithfully fulfil