The UK government nationalised British Steel this week under the Steel Industry (Nationalisation) Act 2026, taking the loss-making company from its Chinese owner Jingye into public hands. China's Ministry of Commerce officially responded by saying it is 'firmly opposes and is strongly dissatisfied' with the decision, arguing it deals a blow to Chinese investor confidence in the UK. The steelworks in Scunthorpe directly employs roughly 2,700 workers, making it a politically sensitive industrial asset that the UK government said it was taking into public ownership to protect both the jobs and the country's steelmaking capacity.