China’s Jingye seeks compensation from UK over British Steel takeover (opens in new tab)

Sources say Chinese firm is asking for more than £1bn in row that could put pressure on two countries’ relationshipThe Chinese owner of British Steel has started a formal process under an international treaty to win compensation from the UK government over its decision to nationalise the Scunthorpe steelworks.Jingye Steel said it would seek to recover money via China’s bilateral investment treaty with the UK, after more than a year of negotiations over the size of a potential payout. The disp...