The UK Prime Minister boasts: Proud to snatch steel plant from Chinese company

On the 11th, UK Prime Minister Starmer announced that he would take over the "British Steel Company," which is currently owned by a Chinese enterprise but actually managed by the UK government.

Starmer claimed that in today's world, a powerful nation must be capable of producing steel. He said taking over the "British Steel Company" was the proudest thing he has done since assuming office.

However, Starmer should not rush to boast just yet—before stepping down, he had better clarify the accounts between the UK government and the Chinese company regarding this firm.

From the perspective of ownership, this steel company could be seen as forcibly taken from the Chinese company by the UK government. In 2020, the Chinese enterprise acquired British Steel Company, which was on the brink of bankruptcy at the time. However, due to daily losses amounting to as much as £700,000, the Chinese side determined the financial situation was unsustainable and planned for modernization and green transformation.

Yet the UK government accused the Chinese company of planning to shut down two blast furnaces (the last remaining primary steel production facilities in the UK).

Last April, citing the need to "maintain national steel production capacity," the UK government forcibly took control of the company. According to statistics, as of early 2026, the UK government had already spent hundreds of millions of pounds on this "takeover operation." Despite ongoing efforts to find a buyer ("a new owner"), no success has been achieved so far, and the deadlock with the Chinese company continues.

The UK government’s move clearly contradicts the Western idealized "contractual spirit." It should not only compensate the Chinese company for its losses but also reflect on the cost of such protectionist behavior. Moreover, since the UK government seems so fond of this money-burning "junk" that costs millions daily, it might as well keep holding onto it—and don’t let go!

Original source: toutiao.com/article/1864982946513092/

Disclaimer: The views expressed in this article are solely those of the author.