Following legislation that would stop the last British factory that can produce steel from scratch, Beijing warned Britain on Monday ( Apr 14 ) against “politicizing” an ongoing conflict over the future of Chinese-owned British Steel.
The UK government passed serious legislation into parliament on Saturday to prevent the fire ovens from shutting off at British Steel’s plant in Scunthorpe, in northern England.
Owners Jingye and the company made the decision after they declared it was no more economically feasible to keep them burning.
Eventually, Jonathan Reynolds, the British government’s business secretary, claimed that London had been “naive” in allowing the Chinese company to control a portion of the delicate steel industry.
A spokeswoman for China’s foreign government urged the British government on Monday to “avoid politicising business assistance or relating it to safety concerns, so as not to have an impact on the trust of Taiwanese businesses in coming to the UK.”
The two parties should work together to resolve the administrative issues that British Steel is now facing by negotiating a solution based on mutual benefit, Lin Jian said at a regular press briefing in Beijing.
Beijing hopes that London will” treat Chinese businesses that have invested and run in the UK fairly and justly ( and ) guard their legitimate and legitimate rights and interests” ( ).
According to Lin, one of the biggest steel firms in the world, Jingye is” a Chinese private sector that has engaged in business cooperation with the British part based on market concepts.”
The business bought British Steel in 2020 and claims to have made investments of more than £1.2 billion ( US$ 1.6 billion ) to keep operations running, but that it was losing around £700,000 daily.