China Criticizes CK Hutchison's $22.8 Billion Panama Port Sale to U.S.-Led Group

Beijing deems the sale a betrayal of Chinese interests, as CK Hutchison's shares drop over 6% following state media backlash.

CK Hutchison Holdings sold its Panama Canal port assets to a consortium led by U.S.-based BlackRock for $22.8 billion, citing commercial reasons.
China's state-affiliated media and the Hong Kong and Macau Affairs Office labeled the sale a betrayal of Chinese people and national interests.
The criticism has been viewed as part of heightened U.S.-China geopolitical tensions, with the U.S. opposing perceived Chinese influence over the Panama Canal.
CK Hutchison's stock dropped as much as 6.7% following the backlash, marking its steepest decline since September 2022.
Analysts believe the sale strategically reduces CK Hutchison's exposure to geopolitical risks while securing an attractive price for its assets.