Britain's Nationalization of British Steel Draws Condemnation from China and Threats to Protect Investments

The British government announced the nationalization of British Steel, which is owned by the Chinese Jianxi Group, in order to protect the country's strategic steel industry. The Scunthorpe plant, the last steelmaking facility in the UK using blast furnaces, is a direct target of the nationalization effort. It employs approximately 2,700 workers and costs the government over £1.3 million daily. The move was made in the interest of industrial security and the preservation of vital sectors. Meanwhile, China expressed its displeasure, considering the decision a violation of its investment rights, and has requested compensation for its investments, with an independent assessment of the project's value pending.

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