China has criticized Britain’s decision to nationalize British Steel, saying it strongly opposes the move and urging the UK to treat Chinese companies fairly.
China’s Ministry of Commerce said British Steel’s former owner, Jingye Steel, had invested heavily to keep the company operating despite years of losses. Beijing argued that the UK government’s takeover, citing national security, unfairly ignored Jingye’s contributions and harmed the company’s legitimate interests.
China said it would closely monitor the situation and support Chinese firms in protecting their legal rights, while calling on Britain to honor its obligations under the China-UK investment protection agreement. Jingye is seeking full compensation for its investment, with the UK government saying an independent assessment will determine any compensation.
Credit : CGTN
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