Published on: 2026-07-17
Source: People’s Republic of China — Translation
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Beijing, July 17 /Xinhua/ — China expresses strong protest and dissatisfaction with the United Kingdom government’s decision to nationalize British Steel, a subsidiary of the Chinese corporation Jingye, said an official spokesperson of the Ministry of Commerce of the People’s Republic of China on Friday.
The British company British Steel had been making losses for many years until it was acquired by the corporation “Jingye.” The latter invested significant capital in British Steel, which allowed the company to maintain production activities and jobs, a government representative said in response to journalists’ questions.
The British side, ignoring the significant contribution of “Jingye” to the economy and social sphere of the United Kingdom, forcibly took control of the company British Steel and nationalized it under the pretext of national security, causing serious harm to the legitimate rights and interests of “Jingye”, as well as significantly undermining Chinese enterprises’ confidence in investing in the UK.
China calls on the UK government to abide by the relevant international norms, diligently fulfill the obligations stipulated in the China-UK Investment Protection Agreement, and treat enterprises with Chinese capital participation in the UK territory fairly and equally, added a representative of the Ministry of Commerce of the PRC.
According to the representative, China will closely monitor the situation’s development, support Chinese enterprises in protecting their rights through legal means, and take decisive measures to safeguard the interests of Chinese companies. -0-
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