China's Foreign Ministry has said it is closely monitoring the United Kingdom's nationalisation of British Steel. Prior to the British government fully taking over the loss-making company on Thursday, it was previously owned by Chinese private steelmaker Jingye.
Beijing’s Foreign Ministry has urged the UK to find a mutually acceptable solution, including arrangements for compensation.
"The issue has drawn widespread attention in China," the Foreign Ministry said in a statement.
"How Britain handles the matter will directly affect Chinese investors' confidence in the UK's investment climate and shape public perceptions in China of the British government's credibility," it added.
UK ministers described the nationalisation as essential to preserve domestic production of virgin steel, which is made from newly mined raw materials, primarily iron ore, rather than recycled scrap metal.
Outgoing Prime Minister Keir Starmer said the decision secured the future of steelmaking in the UK, protected skilled jobs and safeguarded a vital national capability.
The government had previously taken operational control from Chinese firm Jingye in April 2025 to prevent the immediate closure of the Scunthorpe steelworks in northern England.
The plant is the country's last remaining primary steelmaking site and supplies critical materials to the UK rail, construction and automotive sectors. Its collapse would have put 2,700 direct jobs at risk, along with thousands more across the supply chain.
Jingye Steel said last week it wants Britain to compensate it for the loss incurred through its investment in British Steel.
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