The Ministry of Commerce of China File photo: VCG

The UK side, disregarding Jingye Group's important contributions to the British economy and society, forcibly took control of British Steel and subsequently nationalized the company in the name of national security, seriously undermining Jingye's legitimate rights and interests and dealing a severe blow to Chinese companies' confidence in investing in the UK, a spokesperson for China’s Ministry of Commerce said on Friday, commenting on the UK government's nationalization of British Steel, which is owned by China's Jingye Group. 

British Steel had been loss-making for years before it was acquired by Jingye Group. Following the acquisition, Jingye Group injected substantial funds into the company, helping sustain its operations and preserve jobs, the spokesperson said.

China firmly opposes and is strongly dissatisfied with the UK government's decision, the spokesperson said, urging the UK government to abide by relevant international rules, earnestly fulfill its obligations under the China-UK bilateral investment treaty, treat Chinese companies operating in the UK in a fair and impartial manner, and fully protect their legitimate rights and interests. 

China will closely follow developments, support Chinese companies in safeguarding their rights through legal means, and take strong measures to firmly protect the interests of Chinese companies, the spokesperson said.

Global Times