Why China is planting its flag on what’s left of British Steel

It cannot be other than good news that a rescuer has been found for the bankrupt remains of British Steel, and in particular for its ‘long products’ plant at Scunthorpe — even if the buyer, at a token £50 million but with a promise of £1.2 billion of investment, is a little-known Chinese group, Jingye, owned by a former communist party official, Li Ganpo.