Chinese Embassy Responds to UK Politicians' Rhetoric on British Steel Acquisition

On Wednesday, a spokesperson for the Chinese Embassy in the UK expressed disapproval of particular British politicians who have used anti-China rhetoric regarding the government's acquisition of British Steel. This criticism was aimed at the perceived arrogance and ignorance of these politicians, who have unfairly targeted both Chinese firms and the Chinese government in their remarks.

The spokesperson pointed out that Jingye Group, a private Chinese enterprise, entered the UK market based on standard business practices. They clarified that British Steel had faced financial difficulties and was on the brink of compulsory liquidation in 2019 prior to Jingye's acquisition in 2020. After purchasing the company, Jingye invested considerable funds to stabilize and sustain British Steel, which likely prevented potential unemployment for its workers.

Addressing environmental concerns, the spokesperson noted that under the UK's net-zero strategy, steel producers are mandated to achieve net zero emissions by 2035. British Steel's recent plans to close its blast furnaces and transition to electric arc furnaces were described as a standard approach, and the company has been negotiating with the government to secure investment for this transition.

The spokesperson highlighted that Chinese businesses in the UK have operated lawfully and contributed significantly to the local economy, creating nearly 60,000 jobs and adding over £115 billion (approximately $152.6 billion) to the economy. They decried the protectionist trade measures employed by the US and pointed out that rather than condemning these actions, certain UK politicians chose to castigate Chinese enterprises.

The spokesperson urged the British government to uphold fairness and protect the rights of Chinese companies, lest it erode trust and cooperation between China and the UK. Furthermore, they called for constructive dialogue between the UK government and Jingye to reach a mutually beneficial solution. Lin Jian, a spokesperson for the Chinese Foreign Ministry, reiterated the importance of mutual benefit and fair treatment for Chinese investments in the UK, cautioning against politicizing economic matters.