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UK government nationalizes British Steel, expropriating Jingye Group
Le Monde·GB · CN·1 day ago
The UK has finalized the nationalization of British Steel, a subsidiary of China's Jingye Group, citing national security and the preservation of domestic blast furnaces in Scunthorpe. Beijing has formally expressed disapproval of the move, which marks a significant intervention in foreign-owned industrial assets. It remains uncertain whether China will pursue retaliatory trade measures or legal challenges against the UK government.
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