Hong Kong conglomerate CK Hutchison finds itself caught between the governments of Chinese President Xi Jinping and U.S. President Donald Trump after it agreed to sell its Panama Canal port assets to a consortium led by American firm BlackRock. (Nikkei montage/Source photos by Reuters, Getty Images, and Yusuke Hinata)
KENJI KAWASE
HONG KONG -- Chinese authorities have signaled their displeasure over Hong Kong conglomerate CK Hutchison selling its Panama Canal port assets to a consortium led by U.S. investment firm BlackRock, pushing the Li Ka-shing family company's share price sharply lower.
A commentary condemning the deal was published by Hong Kong's state-backed newspaper Ta Kung Pao on Thursday, warning that allowing the canal to be "Americanized" would lead to Washington using it for political purposes to restrict Chinese trade. The article was reposted in full by the joint official website of the Chinese Communist Party's Hong Kong and Macao Work Office and the central government's Hong Kong and Macao Affairs Office, underscoring that it expressed Beijing's views.