China has demanded compensation after the UK government brought British Steel into public ownership, arguing the move breached protections for foreign investors under a bilateral investment treaty between the two countries.
Jingye Group, the Chinese company that acquired British Steel in 2020, said the government had offered 'almost zero compensation' despite its investment in the business. China's Ministry of Commerce said the decision had seriously undermined confidence among Chinese companies investing in Britain and warned Beijing would take 'appropriate measures' to protect their interests.
