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China warns UK government to treat Chinese owners of British Steel fairly
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....hina warns UK government to treat Chinese owners of British Steel fairly<BR>PTI News<BR>Dated:- 14-4-2025<BR>PTI<BR>London, Apr 14 (AP) China has warned the UK government to treat the Chinese owners of British Steel fairly or risk undermining investor confidence in the country, two days after British authorities took control of the company. China's Foreign Ministry made the comment on Monday as ....
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....government-appointed managers raced to prevent British Steel from shutting down the last two blast furnaces in Britain that make so-called virgin steel from raw materials. Parliament on Saturday passed legislation authorizing the government to take control of the company and its Scunthorpe steelworks from Jingye Group, which has owned British Steel since 2020. Jingye still owns the company but B....
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....ritish authorities have taken control of day-to-day operations. “We hope the British government treats Chinese enterprises investing and operating in the UK fairly and justly, protects their legitimate rights and interests, and avoids politicising and over-securitising economic and trade cooperation, so as not to affect the confidence of Chinese enterprises in investing and cooperating in the ....
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....UK,” Foreign Ministry spokeperson Lin Jian said during the weekly press conference in Beijing. The UK government on Monday installed a new executive team at British Steel with the aim of ensuring “consistent and professional leadership” of the Scunthorpe works in northeastern England, British Steel said in a statement. Two longtime British Steel executives, Allan Bell and Lisa Coulson, w....
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....ere named as the company's interim chief executive and chief commercial officer. The appointments were approved by Business Secretary Jonathan Reynolds. Bell, who has worked at Scunthorpe for 14 years, said his main goal was to ensure continued steel production at the plant. “Our immediate priorities are securing the raw materials we need to continue blast furnace operations, ensuring we hav....
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....e the dedicated personnel to run those furnaces, and maintaining the highest levels of health and safety for our workforce,” Bell said in the statement. Prime Minister Keir Starmer on Saturday took the dramatic step of recalling Parliament from its spring recess to pass emergency legislation authorising the government to take control of British Steel. Authorities were concerned about the pla....
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....nt's future after Jingye stopped ordering the iron ore and coking coal needed to keep the furnaces operating. Once blast furnaces are shut down, it is difficult and expensive to restart them, raising concerns that Britain might lose the ability to make high-quality virgin steel needed by builders and railroads as the government tries to spur economic growth. Other British steelmakers are alrea....
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....dy in the process of shifting to electric arc furnaces that make steel from scrap metal. (AP) PY PY<BR> News - Press release - PIB....