China’s Ministry of Foreign Affairs has said it will closely monitor the United Kingdom’s nationalisation of British Steel, previously owned by a Chinese steelmaker. The UK government nationalised British Steel on Thursday, fully taking over the loss-making company, then under the ownership of Jingye, on national security grounds. “The issue has drawn widespread attention in China,” the Chinese Foreign Ministry said in a statement on Saturday. “How Britain handles the matter will directly affect Chinese investors’ confidence in the UK’s investment climate and shape public perceptions in China of the British ... (full story)