China may take measures to protect the legitimate rights of its investors in connection with the nationalization of British Steel by British authorities, according to a statement from the Chinese Foreign Ministry.
“China is closely monitoring the situation and will take measures, if necessary, to protect the legitimate rights and interests of its investors,“ the statement said.
The Foreign Ministry stressed that London's actions will directly affect Chinese investors' assessment of the UK business environment and the trust that Chinese citizens have in the British government. Beijing demanded that the legitimate rights of investors be guaranteed in accordance with the bilateral investment protection agreement.
China also called on the UK to adhere to market principles and find a mutually acceptable solution, including the issue of compensation.
British Steel was previously controlled by China's Jingye Group.