China targets billionaire Li Ka‑shing over Panama port sale
The People's Republic of China Authorities have instructed state-owned enterprises to halt new transactions with companies associated with Hong Kong billionaire Li Ka-shing, Bloomberg agency revealed. This move stems from dissatisfaction with Li's plans to sell ports in Panama to an American consortium.
In March, the Hong Kong-based conglomerate CK Hutchison, owned by 96-year-old Li, agreed to sell most of its global port operations, including assets near the strategically important Panama Canal, to the American investment company BlackRock.
Recent media reports indicate that this decision has caused dissatisfaction in Beijing. According to the paper, the pro-Beijing Hong Kong newspaper "Ta Kung Pao" published articles criticizing the deal, which harms Chinese national interests.
The entire society claims that the forced sale of ports by the U.S. is a short-sighted action that will only fuel the flames of hegemony, as can be read in publications on the websites of two Chinese government departments responsible for matters related to Hong Kong.
Bloomberg, citing sources familiar with the matter, reports that Beijing's directive issued last week does not affect existing ties with Li's and his family's enterprises.
The Panama Canal and Trump's call
Bloomberg assesses, however, that the Chinese authorities' decision increases the pressure on Li after the deal has put his conglomerate's flagship entity in the crosshairs of the tensions between the U.S. and China.
U.S. President Donald Trump, who has repeatedly called for the "recovery" of control of the Panama Canal, which he claims is under Chinese control, praised the transaction.
