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China Uk Relations

All articles tagged with #china uk relations

world1 day ago•3 min saved

China presses for compensation as UK nationalises British Steel

Britain’s government moved to nationalise British Steel to safeguard domestic capacity and thousands of jobs at the Scunthorpe plant, a move Jingye Group (China) says tramples international investment rules and demands full compensation for losses. Beijing warned of appropriate measures to defend Chinese investors as the dispute tests China–UK ties and highlights the costs already incurred operating British Steel, with the plant facing questions over its future under a decarbonised, domestically supplied steel sector.

via Al Jazeera|

#british-steel #china-uk-relations #compensation

world1 day ago•2 min saved

China presses UK for fair remedy after British Steel nationalisation

China says it will closely monitor the UK's decision to nationalise British Steel, urging a mutually acceptable resolution and compensation for Jingye's losses from the investment. Jingye, the Chinese owner, seeks compensation after buying British Steel in 2020; the UK moved to nationalise the loss-making firm on security grounds to protect jobs and supply chains. British Steel employs about 2,700 at its Scunthorpe works with thousands more in the wider chain, and Jingye has reported losses of roughly 700,000 pounds per day by 2025. The Chinese stance underscores how Britain’s handling of the move could affect Chinese investors’ confidence in the UK.

via Al Jazeera|

#british-steel-nationalisation #china-uk-relations #compensation

business2 years ago•3 min saved

China-UK Relations: Multinationals Assured as UK Firms Delay Investments Amidst Slowing Chinese Economy

China-UK relations are in the process of normalizing, providing assurance to multinationals from both countries on their investments. UK companies are expected to increase their investment in sectors such as healthcare, clean energy, and artificial intelligence in China. While there is uncertainty due to the upcoming UK election, it is believed that the deep relations between China and the UK will not be significantly affected. Former UK prime minister David Cameron's appointment as foreign secretary is seen as positive, given his experience in dealing with China. A survey shows that UK companies are cautiously optimistic about their business in China, with many expecting to increase investment due to alignment with China's growth objectives. The Chinese market offers opportunities for growth and greater demand for products and services.

via Global Times|

#business #china-uk-relations #economic-growth