**ISTANBUL**
China said Monday it will review the planned sale of two ports near the Panama Canal by Hong Kong-based CK Hutchison Holdings to a US consortium led by investment firm BlackRock.
“The State Administration for Market Regulation has indicated it will conduct a review according to the law to protect fair market competition and safeguard public interest,” Chinese Foreign Ministry spokesman Guo Jiakun said in Beijing, according to state media.
CK Hutchison Holdings earlier this month announced plans to transfer control of the Balboa and Cristobal ports in Panama to a group including BlackRock, Global Infrastructure Partners, and Terminal Investment.
The deal follows pressure from US President Donald Trump, who has claimed that China is running the Panama Canal and has publicly said the US should take control of the key waterway.
Guo said Beijing “always firmly opposes using economic coercion and acts of hegemonic bullying that infringe upon and harm the legitimate rights and interests of other countries.”
The sale would involve a 90% stake in the two ports being handed over by CK Hutchison to the US-led consortium.
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