China Condemns UK Move to Nationalize British Steel

The UK government has announced that it had passed legislation to nationalize British Steel, previously owned by China's Jingye Group, to protect the country's steelmaking capacity after Jingye moved to shut down the company's blast furnaces, Doloresz Katanich reported for Euronews.

British Steel's Scunthorpe steelworks became the focus of a diplomatic dispute following the UK government's nationalization decision. (Photo: British Steel Facebook)

China condemned the UK's decision, saying it "firmly opposes and is strongly dissatisfied with the British government's decision" and warning that the move had damaged Chinese companies' confidence in investing in the UK, according to China's Ministry of Commerce.

The British government said it was taking the loss-making company into public ownership to protect jobs and safeguard a "vital national capability."

The UK assumed operational control of British Steel's Scunthorpe plant in 2025 after Jingye considered closing its blast furnaces.

However, Jingye retained ownership of the company, limiting the government's ability to determine its future.

In a statement released recently, China's Ministry of Commerce said British Steel had been incurring losses for years before Jingye acquired it. The ministry added that Jingye had invested substantial capital into the company after the acquisition, allowing it to continue operating and preserving jobs.