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UK Government Proposes Legislation to Nationalize Chinese-Owned UK Steel

GateNews
According to China's Ministry of Commerce, the UK government recently proposed legislation to nationalize UK Steel, currently owned by China's Jingye Group. The ministry stated that the government has supervised the company for over a year and urged the UK to respect the enterprises' wishes, follow market principles, and avoid abusing administrative coercion. China emphasized the need for a fair, non-discriminatory solution acceptable to both parties, highlighting Jingye's significant investments in UK Steel and contributions to the UK economy. The ministry warned it would closely monitor developments and take measures to protect Chinese enterprises' legitimate rights.
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