Riyaz ul Khaliq
17 July 2026•Update: 17 July 2026
China on Friday voiced "firm opposition" to the UK government's decision to nationalize British Steel, a subsidiary of China's Jingye Group.
China's Commerce Ministry said it was "dissatisfied" with the move, arguing that Jingye had injected significant capital into British Steel, sustained its operations and preserved jobs after acquiring the loss-making company, according to state-run Xinhua news agency.
According to the BBC, British Steel was taken into public ownership in a move the UK government said would protect jobs and safeguard "a vital national capability."
"The UK side, ignoring Jingye's significant contributions to its economy and society, forcibly took over and nationalized the company in the name of national security, which has seriously undermined Jingye's legitimate rights and interests and severely dampened the confidence of Chinese enterprises in investing in the UK," Xinhua quoted the ministry as saying.
The ministry urged the UK to abide by relevant international rules, fulfill its obligations under the China-UK investment protection agreement and treat Chinese-invested companies fairly and equitably.
The BBC reported that Jingye has sought compensation from the UK government.
British Business Secretary Peter Kyle told the broadcaster that an independent assessor would determine whether Jingye should be compensated based on the value of the company.
China's Commerce Ministry said Beijing would closely monitor developments, support Chinese companies in safeguarding their rights through legal means and take "strong measures" to protect their interests.
