The UK government has taken control of Chinese-owned British Steel two days after passing emergency legislation to authorise the move. China has warned the UK to treat Chinese investors fairly or risk undermining investor confidence.
China’s Foreign Ministry said it hopes the British government will protect the legitimate rights and interests of Chinese enterprises, avoid politicising economic cooperation, and maintain investor confidence. However, the UK government is confident that the company will receive necessary raw materials to continue operations.
British Steel’s interim executive team, led by longtime executives Allan Bell and Lisa Coulson, has been appointed to ensure consistent leadership. The appointments were made possible by emergency legislation passed on Saturday.
The move follows concerns about the plant’s future after Chinese owner Jingye Group stopped ordering essential iron ore and coking coal. Shutting down blast furnaces would be costly and difficult to restart, potentially threatening Britain’s ability to produce high-quality steel needed for construction projects.
Source: https://www.euronews.com/business/2025/04/14/sony-hikes-playstation-5-prices-by-25-in-uk-europe-and-australia