The UK government fully nationalised British Steel on Thursday, July 16th, 2026, citing national security concerns. The company was previously owned by Chinese steelmaker Jingye.

Jingye is seeking compensation for losses incurred through its investment in British Steel. By 2025, Jingye reported losing approximately £700,000 ($942,000) daily due to the company’s financial difficulties.

China’s Ministry of Foreign Affairs stated it will closely monitor the situation, emphasizing that "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."

The Chinese Foreign Ministry noted on Saturday, July 18th, 2026, that the issue has drawn widespread attention in China.

Sources