China and Hong Kong have denounced the notion of “bullying” in response to a recent agreement involving a Hong Kong company and a US financial firm regarding the sale of ports near the Panama Canal. The Chinese government has initiated an examination of the transaction through various agencies. President Donald Trump, who has accused China of aiming to dominate the strategic waterway, initially commended the deal. CK Hutchison, the Hong Kong-based company, announced the sale of its global ports business, worth $22.8 billion, to a group led by US investment company BlackRock.

The deal’s progression has been hindered by the criticism it received. China’s Hong Kong and Macau Affairs Office has reposted commentaries describing the sale as a betrayal that disregards national interests. The agreement is now subject to scrutiny for possible security risks and antitrust violations following instructions from senior Chinese officials. The Beijing Ministry of Foreign Affairs has reiterated China’s opposition to economic coercion and bullying tactics.

Hong Kong’s Chief Executive, John Lee, echoed these sentiments, advocating for a fair and just international business environment and decrying the misuse of coercion. Hutchison has not yet responded to the examination by Beijing but has previously stated that the deal is purely commercial and unrelated to political events.

The negotiations with BlackRock have been agreed upon exclusively for a period of 145 days. It’s unclear what measures China could employ to block the deal, as the assets being sold are located outside China and Hong Kong, with Hutchison itself being based in the Cayman Islands. However, there has been US concern over the deal, with Trump urging the removal of the Panama Canal from “Chinese control” and labeling Hutchison’s operations there as a security risk.

Source: https://www.aljazeera.com/news/2025/3/18/china-scrutinising-hong-kong-firms-sale-of-panama-canal-ports?traffic_source=rss