It's likely in part Hong Kong in another part that the UK would like some manufacturing back. Also the UK is still pissed at China for flooding the steel market years ago
No they fucking aren't. Well, not the government, which is where it matters. The British government couldn't give a monkeys about the British steel industry, otherwise they wouldn't have so thoroughly assisted its decline, then gimped their own ability to protect it, Brexited it into greater economic turmoil, nor would they have permitted the extended rescue wrangles to stagger on so long.
Just so we're clear here, the UK barely produces steel, really - it's all but died, along with so much else of its manufacturing under the less-than-tender ministrations of the Tories. The UK produces only marginally more steel than the Netherlands, which has a quarter of the UK's population. It produces less steel than Belgium, a country with a sixth of the population. It produces half as much steel as France, a third as much as Italy, A fifth as much as Germany. Basically, the only countries that produce less steel per head population in Europe are places where heavy industry never really took off, like Ireland and Portugal.
The Tories are a bunch of toffs beholden to the finance industry. They killed the manufacturing jobs of northern and midlands English in favour of the City of London from the 1980s, and then claimed their votes with appeals to crass jingosim. It is almost literally bread and circuses, except with less bread because they slashed all the welfare, too.
The only reason the UK government has got twitchy about China is because they wanted to suck up to Trump, because US trade is more valuable. The UK has been wooing China (far more than the EU has) for decades: just 5-10 years back, David Cameron was promising the UK would be China's flagbearer in Europe, basically begging China for investment and offering up our nation's peachy backside to whatever China wanted to insert into it. If Biden fixes up US-China relations, they'll go right back to being Xi Jinping's bestest ever European mates, just so long as it ensures yuan flow into through the accounts of UK banks. Fuck, they'll just sell the British steel industry to China - and the railways, and the nuclear power stations, etc.