Jingye Steel protests UK government nationalization of British Steel

Jingye Steel Co., Ltd. has issued an official statement regarding the full nationalization of British Steel by the United Kingdom government. According to the company, the UK government enacted emergency legislation in July 2026, citing ‘public interest,’ to bring British Steel assets under state ownership.

Jingye Steel claims that the government has not yet provided fair compensation for this action. The company noted that its intervention five years ago helped prevent British Steel from insolvency, ending nine years of consecutive losses and investing heavily in production line modernization. At its peak, the company employed 4,887 workers and supported approximately 30,000 upstream and downstream jobs.

In its announcement, Jingye Steel stated that the seizure of lawful foreign investment via emergency legislation, without prior consultation or compensation, is inconsistent with international consensus regarding expropriation. While the company expressed respect for the national rights of all countries, it maintains an unequivocal position regarding the current situation.