UK Will Be More Skeptical of Chinese Investment After Steel Rescue
The British Steel Ltd. plant in Scunthorpe.
Photographer: Dominic Lipinski/BloombergThis article is for subscribers only.
The UK government will take a more skeptical approach to future Chinese investment in sensitive sectors of the economy after it was forced to rescue the country’s last primary steel manufacturer, Business Secretary Jonathan Reynolds said Sunday.
Asked on Sky News whether the move to take control of Jingye Group’s British Steel has resulted in a “high trust bar” for UK-Chinese co-operation, Reynolds agreed, saying: “We’ve got to recognize that.”