Britain nationalised British Steel on Thursday, fully taking over the loss-making company that was previously owned by Chinese steelmaker Jingye, in an effort to protect the future of steel production in the country.
The British side had “forcibly” taken over the company and “disregarded” Jingye’s contributions to the British economy and society, the Commerce Ministry said in a statement.
It said Britain’s move “seriously damaged” Jingye’s legitimate rights and interests and “severely undermined” Chinese companies’ confidence in investing in Britain.
China urged the UK to abide by relevant international rules, fulfil its obligations under the China-UK investment protection agreement and treat Chinese-invested enterprises in the UK fairly and equitably, the ministry added.
It also said it will closely monitor the developments and support Chinese enterprises in safeguarding their rights through legal means. (Xinhua & Reuters)
