According to the news on the Ministry of Commerce's website on July 17th, a spokesperson for the Ministry of Commerce answered reporters' questions regarding the British government's plan to nationalize the British steel industry.
A reporter asked: On July 16th, the British government announced that it had passed relevant legislation to nationalize the British Steel Company, which is under the control of China National Steel Group. What is China's comment on this?
Response: The Chinese side expresses resolute opposition and strong dissatisfaction with the relevant decisions made by the British government.
Before the acquisition by Jingye, Yingshan had been operating at a loss for many years. After the acquisition, Jingye injected substantial funds into Yingshan, allowing the company to continue operating and retain its jobs. Ignoring the important contributions that Jingye has made to Yingshan's economy and society, Jingye forcibly took over Yingshan under the pretext of national security and then nationalized Yingshan, seriously harming Jingye's legitimate rights and interests and severely damaging the confidence of Chinese enterprises in investing in Yingshan.
The Chinese side urges the British government to comply with relevant international rules, earnestly fulfill the obligations under the Sino-British Investment Protection Agreement, treat Chinese enterprises operating in the UK fairly and justly, and fully protect their legitimate rights and interests. The Chinese side will closely monitor the progress of the incident, support Chinese enterprises in using legal means to safeguard their rights, and take strong measures to firmly protect the interests of Chinese enterprises.
