China has urged the UK government to "make decisions cautiously" regarding plans to nationalize British Steel and warned that it will protect the interests of Chinese businesses. This was reported by Sky News, according to UNN.
This refers to British Steel, over which the British government took operational control from the Chinese owner Jingye back in April 2025. Now, UK Prime Minister Keir Starmer has announced the preparation of legislation that will allow for the full nationalization of the company.
British Steel is one of the UK's largest steel companies, producing steel for construction, rail infrastructure, and industry. Since 2020, the company has been owned by the Chinese corporation Jingye Group.
China's Ministry of Commerce stated that London must "respect the wishes of companies and market principles" and "avoid abusing administrative coercive measures."
China will closely monitor the development of the situation and take decisive measures to protect the legitimate rights of Chinese companies
As Sky News notes, the British government's decision is linked to an attempt to save the steelworks in Scunthorpe. Starmer stated that the nationalization of British Steel "will make Britain stronger."
The government's nationalization plans also emerged following significant losses for the Labour Party in the May elections.
As a reminder
The British Prime Minister announced the nationalization of British Steel and closer ties with the EU. Starmer guarantees employment and training in Europe for young people.