US EditionUK will set 'high trust bar' for future Chinese investment after British Steel rescue, minister says
- The UK business secretary said Chinese companies will have to clear a 'high trust bar' for investing in key sectors after taking control of Britain's last remaining blast furnace steel plant from its Chinese owner.
- The UK government took control of the British Steel plant to prevent the closure of its blast furnaces and maintain the UK's ability to make steel from raw materials.
- The business secretary said the Chinese owner, Jingye Group, had intended to close the blast furnaces regardless of government offers, while keeping more profitable operations supplied from China.
34 Articles
34 Articles
It’s not just British Steel. Here’s where the UK is hooked on China
LONDON — Keir Starmer is standing up to Chinese economic might — at least for now. The British prime minister’s government dramatically took back control of the U.K.’s last virgin steel-producing plant from its Chinese owners this weekend. After weeks of talks, parliament passed emergency legislation to wrestle the British Steel Scunthorpe site back from Jingye, with officials then racing to keep its crucial furnaces running after claims of negl…
Labour told to block Chinese firms from these energy projects after steel crisis
Labour has been urged to phase out Chinese ownership of UK oil, nuclear power and renewable energy infrastructure after claims of attempted “sabotage” at British Steel.Keir Starmer’s Government is facing growing calls to block investment from Chinese firms in the likes of Grangemouth oil refinery, new nuclear reactors at Hinkley Point C, plus other solar and wind projects. Business Secretary Jonathan Reynolds said at the weekend that companies f…
Chinese firms face UK critical industry ban after nearly killing British Steel
CHINESE firms could be locked out of critical industries after almost killing off British Steel. The Business Secretary said there is now a “high trust bar” for Beijing firms to buy into sensitive sectors. GettyChinese firms could be locked out of critical industries after almost killing off British Steel[/caption] AlamyBusiness Secretary Jonathan Reynolds has all but ruled out another Chinese firm taking over after Jingye came close to shutti…
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