Foreign Ministry Spokesperson’s Remarks on the UK Nationalizing British Steel

Q: According to reports, the UK government announced on July 16 that it had nationalized British Steel in accordance with the Steel Industry (Nationalisation) Act, taking over the enterprise previously controlled by China's Jingye Group, and will establish a compensation mechanism through secondary legislation, with an independent assessment to determine whether compensation is needed. UK Prime Minister Keir Starmer stated that this decision safeguards the future of the UK's steel industry and protects skilled jobs. What is China's comment?

A: The Ministry of Commerce of China has made a response which you may refer to. Let me stress that this matter has drawn close attention from the Chinese public. How the UK handles this matter will directly influence how Chinese investors view the investment environment in the UK and its government's credibility. China and the UK have signed an agreement concerning the protection of investments, and the legitimate rights and interests of investors must be fully protected in accordance with the law. China urges the UK to earnestly respect market principles and the spirit of contract, and find solutions on compensation and other issues acceptable to both sides. China supports enterprises in safeguarding their legitimate rights and interests through legal means. China is closely following the developments and will do what is necessary to protect its rights.