China firmly opposes ‌UK nationalization of British Steel: Ministry of Commerce

(ECNS) -- China firmly opposes and strongly disapproves of Britain's decision to nationalize British Steel and urged fair treatment of Chinese firms in the UK, according to China's Ministry of Commerce on Friday.

British Steel was owned by Jingye Steel, a private Chinese steel company that injected a massive amount of capital into the business after taking it over, keeping it afloat after years of losses.

Britain has forcibly taken over the company under the pretext of national security and disregarded Jingye's contributions to the British economy and society, a spokesperson for China's Ministry of Commerce said.

Britain's move seriously damages Jingye's legitimate rights and interests, and severely undermines Chinese companies' confidence in investing in Britain, the spokesperson added.

The spokesperson urged the British government to abide by relevant international rules, fulfill its obligations under the China-UK investment protection agreement, treat Chinese enterprises in the UK fairly and impartially, and fully protect their legitimate rights and interests.

(By Kira)