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China urges Britain to provide fair business environment for Chinese firms - Finance news and analysis from Global Banking & Finance Review
Finance

China urges Britain to provide fair business environment for Chinese firms

Published by Global Banking & Finance Review

Posted on July 23, 2026

1 min read

· Last updated: July 23, 2026

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Finance trade International Relations

China Calls on UK to Ensure Fair Business Environment for Chinese Companies

China Urges UK to Support Chinese Businesses

Chinese Foreign Minister's Statement

HONG KONG, July 23 (Reuters) - China Foreign Minister Wang Yi said on Thursday he hoped that Britain would provide Chinese companies operating in the United Kingdom with a fair, equitable and non-discriminatory business environment, the official Xinhua news agency reported.

Background: British Steel Nationalisation

UK Government Action

Britain nationalised British Steel last week, fully ⁠taking over the loss-making company ​that was previously owned by ​Chinese private steelmaker Jingye on national security grounds.

Implications for Chinese Investors

Reporting and Editorial Credits

(Reporting by Farah Master and the Beijing newsroom; Editing by Jacqueline Wong)

Key Takeaways

  • China presses UK for fair treatment of Chinese businesses following nationalisation of British Steel, citing concerns over discrimination.
  • The UK government nationalised British Steel on July 16, 2026, invoking the Steel Industry (Nationalisation) Act to safeguard national security, infrastructure, and jobs—previous negotiations with Jingye failed to reach agreement.
  • Jingye Group is seeking prompt, adequate compensation and has initiated legal and arbitration proceedings under international investment frameworks in response to the nationalisation.

Frequently Asked Questions

Why did China urge Britain to provide a fair business environment?
China expressed concerns following the nationalisation of British Steel, previously owned by China's Jingye, urging Britain to treat Chinese firms fairly.
Who made the statement on behalf of China?
China's Foreign Minister Wang Yi made the statement, as reported by the official Xinhua news agency.
What recent event prompted China's statement?
The British government nationalised British Steel for national security reasons, taking over from Chinese owner Jingye.
Which Chinese company was involved with British Steel?
Jingye Group, a private steelmaker from China, previously owned British Steel.

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