Embassy Spokesperson on Question Regarding British Steel

Question: Recently, there have been various comments in the UK regarding the government's takeover of British Steel. Several politicians took the opportunity to attack all Chinese companies and the Chinese government. What's your comment?

Embassy Spokesperson: The anti-China rhetoric of some individual British politicians is extremely absurd, reflecting their arrogance, ignorance and twisted mindset. Regarding the issue of British Steel, I'd like to share a few basic facts.

1. The Jingye Group is a private Chinese enterprise that makes business investments in the UK on the basis of market principles and conducts operation on its own.

2. It is well-known that British Steel had been losing money for many years before its acquisition by Jingye in 2020 and actually went into compulsory liquidation in 2019. After taking over, Jingye put in substantial funding to keep the company afloat to this day. Had it not been for the involvement of this Chinese company, British Steel workers might have already faced the risk of unemployment.

3. It is understood that under the UK government's net zero strategy, steel companies that use iron ore to make steel must achieve net zero emissions by 2035. To that end, British steel companies including British Steel have all negotiated with the government to find a path to decarbonisation transition. Among them, the Port Talbot Steelworks in Wales closed its blast furnace in July 2024. British Steel's plan to close its blast furnaces and build electric arc furnaces is a normal decision, and it is understandable that the company conducted negotiations with the government on investment for the transition.

4. Generally speaking, Chinese companies in the UK have operated in compliance with law and achieved steady progress. They have made positive contributions to the local economy. According to statistics available, Chinese companies in the UK have contributed over 115 billion pounds to the UK economy and created nearly 60,000 jobs.

5. At a time when the US is wielding the tariff stick against all countries, the UK included, and engaging in unilateral and protectionist trade bullying, those British politicians just keep slandering the Chinese government and Chinese enterprises instead of criticizing the United States. What on earth are they up to?

6. Any words or deeds that politicise or maliciously hype up business issues will undermine the confidence of Chinese business investors in the UK and damage China-UK economic and trade cooperation. We urge the British government to follow the principles of fairness, impartiality and non-discrimination and to make sure that the legitimate rights and interests of Chinese companies in the UK are protected. At the same time, it is hoped that the British government will continue to engage in consultations and negotiations with Jingye to actively seek a solution acceptable to all parties. We will continue to follow the development of this situation.