China urges caution over British Steel nationalisation plan

SEATTLE (Scrap Monster): China on Thursday urged the British government ​to "make decisions prudently" over plans to nationalise ‌British Steel, calling on it to "respect the wishes of firms and market principles, and avoid ​the abuse of administrative coercive measures."

Britain seized ​operational control of British Steel from its ⁠Chinese owners, Jingye, in April 2025 ​and, under plans announced by Prime ​Minister Keir Starmer on Monday, could fully nationalise it.

China will closely follow developments and will "take strong measures ​to safeguard legitimate rights of Chinese ​companies," according to a statement released by the commerce ‌ministry.

A ⁠British government spokesperson said it was committed to respecting the rights of businesses.

"We would only use the powers in ​the Bill ​where the ⁠public interest test has been met," the spokesperson said, referring ​to the new legislation that ​gives ⁠the government the power to bring British Steel into public ownership.

Courtesy: www.reuters.com