CCTV news: The spokesperson of the Ministry of Foreign Affairs answered reporters’ questions on the nationalization of British Steel.
Q: It is reported that the British government announced on the 16th that it has nationalized British Steel in accordance with the "Steel Industry (Nationalization) Act" and has taken over the company, which was previously controlled by China Jingye Group. It will establish a compensation mechanism through secondary legislation and independently evaluate compensation matters.British Prime Minister Starmer said that the decision safeguarded the future of the British steel industry and protected skilled jobs.What is China’s comment on this?
Answer: The Ministry of Commerce of China has issued a response, which you can check.What I want to emphasize is that this matter has attracted great attention from the Chinese people.How the British side handles this matter will directly affect Chinese investors' views on the British investment environment and the Chinese people's views on the credibility of the British government.China and the UK have signed an investment protection agreement, and the legitimate rights and interests of investors must be fully protected in accordance with the law.China urges the UK to earnestly respect market principles and the spirit of contract, and find a solution acceptable to both parties, including how to compensate.China supports companies in using legal means to safeguard their rights, is paying close attention to the development of the incident, and will take rights protection measures when necessary.
