Chinese Embassy in UK slams rhetoric of politicians over British Steel issue

The United Kingdom government's recent takeover of British Steel has sparked various comments, with several politicians seizing the moment to voice criticism of Chinese companies and the Chinese government. In response, the Chinese Embassy in the UK condemned the anti-China rhetoric of certain British politicians as absurd and reflective of arrogance and ignorance, while offering basic facts to clarify the British Steel issue.

According to the embassy spokesperson, 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.

British Steel was on the brink of collapse before its 2020 acquisition by China's Jingye Group, having suffered years of financial losses and entering 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.

The embassy highlighted 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. In response, 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.

Chinese companies operating in the UK have complied with local laws and achieved steady growth, making positive contributions to the local economy. According to statistics available, Chinese companies in the UK have contributed over 115 billion pounds ($152.57 billion) to the UK economy and created nearly 60,000 jobs.

Amid the US wielding the tariff stick against all?countries, the UK?included, and engaging in unilateral and protectionist trade bullying, the embassy expressed concern that some UK politicians are unfairly targeting China while ignoring the broader context. "What on earth are they up to?" the spokesperson asked.

Any words or deeds that politicize 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. The embassy urged 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," the spokesperson said.