China warns UK on British Steel nationalisation and seeks resolution

China’s Ministry of Foreign Affairs is monitoring the UK’s nationalization of British Steel, previously owned by Chinese company Jingye, which is seeking compensation for its losses. The UK government took control of the loss-making steelmaker on national security grounds to protect jobs and infrastructure. Jingye, which acquired British Steel for £70 million in 2020, reported daily losses of £700,000 by 2025 as it faced operational challenges.

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