Reported 3 days ago
Following the UK government's takeover of British Steel from its Chinese owners, officials have announced that Chinese investments in crucial sectors will face heightened scrutiny. Business Secretary Jonathan Reynolds emphasized the need for a 'high trust bar' due to concerns about negotiations and intentions from the Jingye Group, which has been criticized for potentially undermining the steel industry. The recent legislation empowers the government to ensure the ongoing operation of British Steel and protect thousands of jobs amid fears of dependence on foreign steel sources.
Source: YAHOO