Nach der Verstaatlichung des britischen Stahlwerks British Steel durch die Regierung droht der chinesische Ex-Eigentümer Jingye Steel mit rechtlichen Schritten und fordert Entschädigung. Peking kritisiert das Vorgehen als schädlich für das Investitionsklima.
Chinese firm Jingye Group is demanding compensation from the UK government for investment losses following the nationalisation of British Steel, stating the move damaged credibility and international investment rules. Jingye has initiated negotiation procedures and reserves the right to international arbitration.
China condemned the UK's nationalization of British Steel, expressing strong dissatisfaction and warning it damaged Chinese companies' investment confidence. The UK government took operational control of the Scunthorpe plant to protect jobs and national capability after owner Jingye considered closing blast furnaces.
The UK government nationalized British Steel, previously owned by China's Jingye Group, 15 months after intervening to prevent its closure. China's Ministry of Commerce expressed strong dissatisfaction, stating the move severely undermines Chinese companies' confidence in UK investment and threatens legal action.
China's commerce ministry expressed strong dissatisfaction with the UK government's nationalisation of British Steel, calling it an infringement on Jingye Group's rights and a breach of the China-UK Bilateral Investment Treaty. The UK cited job protection, national capability, and taxpayer value for the move.
British Steel's Scunthorpe plant, employing 2,700 people, has been taken into public ownership by the UK government after years of financial losses and a threat of closure by China's Jingye Group. The move aims to protect jobs and the UK's virgin steel production capability, despite China's opposition and Jingye seeking compensation.
Jingye Group demands compensation from the UK government, calling the nationalization of its subsidiary, British Steel, "outright robbery" and threatening legal action. The UK government took control citing national security, strategic steel supplies, and job protection, with an independent valuer now assessing compensation.
China's Jingye Group, former owner of British Steel, announced it will pursue full compensation from the UK government through legal means after the Scunthorpe steelworks was fully nationalised. The move has strained UK-China relations, with Beijing expressing strong dissatisfaction.
The UK government has nationalised British Steel to protect 2,700 jobs in Scunthorpe and maintain the UK's last primary steel production capability, amid significant daily losses and uncertainty over its future.
China's Ministry of Foreign Affairs will closely monitor the UK's nationalisation of British Steel, previously owned by China's Jingye Steel, citing concerns over investor confidence and compensation.
The UK government has indicated it might restrict or deny compensation to Jingye Group, the Chinese owner of British Steel, after the company initiated proceedings under a bilateral investment treaty. The nationalization of the steelworks, which cost the government £1.3m daily, is proceeding through Parliament.
Jingye Steel, the Chinese owner of British Steel, has initiated a formal process under the UK-China bilateral investment treaty to seek compensation from the UK government following the nationalisation of the Scunthorpe steelworks. The company aims to recover over £1bn, potentially impacting UK-China relations.
UK Business Secretary Peter Kyle will meet EU Trade Commissioner Maroš Šefčovič to discuss planned EU tariff-free import reductions for British steel. The EU's proposed 47% cut from July 1st, alongside the UK's 60% reduction, sparks fears of collateral damage and retaliatory measures, impacting industries on both sides.
UK Business Secretary Peter Kyle will meet EU trade commissioner Maroš Šefčovič to discuss planned EU cuts to tariff-free steel imports. The UK industry fears "devastating" consequences from the EU's 47% reduction, while EU leaders worry about UK retaliation. Both sides are introducing safeguards against Chinese competition, but fears grow of collateral damage.
The UK plans to nationalise British Steel, prompting China to warn of protecting its businesses. The move follows the UK's seizure of operational control from Chinese owner Jingye in April 2025 due to the plant's financial struggles.
Labour's King's Speech unveils bills to reset EU relations, nationalise British Steel, reform NHS, education, housing, and immigration, amidst potential backlash from Labour MPs on asylum measures.
The UK government's plan to nationalize British Steel is expected to cost taxpayers billions, with estimates suggesting over £1.5 billion by 2028 and an additional £1 billion for transitioning to an electric arc furnace, amid efforts to decarbonize the industry and attract investors through potential mergers.
Keir Starmer’s plan for full state ownership marks latest chapter in Scunthorpe plant’s troubled historyFull nationalisation of British Steel expected in king’s speechNils Pratley: More questions than answers on the futureFour queens – blast furnaces named after Anne, Bess (Elizabeth), Victoria and Mary – loom over the British Steel works at Scunthorpe. Within days the queens could be under public ownership, after Keir Starmer on Monday promised legislation to nationalise the plant.“Strong nations in a world like this need to make steel,” Starmer said on Monday in a speech. The prime minister was hoping decisive action would fend off challenges to his leadership. Continue reading...
Hard decisions over a possible sale and future subsidies loom now full nationalisation is on the cardsExplainer: how did we get here, and what about the future?Full nationalisation of British Steel expected in king’s speech“One of the proudest things we have done in government,” said Keir Starmer in Monday’s big speech about the decision a year ago to recall parliament in order to take control of British Steel at Scunthorpe.It was an odd boast because last year’s action was merely an emergency exercise in saving the patient, as opposed to getting British Steel on its feet and out of the hospital. Taking control meant the Chinese owner, Jingye, could not turn off the two blast furnaces but meant the government was on the hook for operational losses, which will be £615m and counting by next month according to the National Audit Office (NAO). Continue reading...
PM makes series of policy pledges including seeking new deal with EU and says he will fight any challengeWho are the main threats to Keir Starmer’s Labour leadership?UK politics live – latest updatesKeir Starmer has said he will prove his doubters wrong as he warned Labour was facing “very dangerous opponents” in a make-or-break speech, with leadership rivals on the brink of a challenge.Starmer said he would fight any leadership challenge and would not walk away from his responsibilities as prime minister.British Steel would be formally nationalised this week by legislation.A new, wide-ranging deal with the EU including an ambitious youth mobility scheme.A guaranteed offer of a job training or work placement for young people. Continue reading...
Keir Starmer has announced government plans to nationalise British Steel.
Keir Starmer has announced government plans to nationalise British Steel.
PM makes series of policy pledges including seeking new deal with EU and says he will fight any challengeWho are the main threats to Keir Starmer’s Labour leadership?UK politics live – latest updatesKeir Starmer has said he will prove his doubters wrong as he warned Labour was facing “very dangerous opponents” in a make-or-break speech, with leadership rivals on the brink of a challenge.Starmer said he would fight any leadership challenge and would not “walk away” from his responsibilities as prime minister.British Steel would be formally nationalised this week by legislation.A new, wide-ranging deal with the EU including an ambitious youth mobility scheme.A guaranteed offer of a job training or work placement for young people. Continue reading...
Le sidérurgiste britannique est actuellement la propriété du groupe chinois Jingye.
