China to 'review' CK Hutchison port sale as saga enters crunch time

Amid media attacks, analysts say scuttling deal would prove Trump's Panama point

20250328 An aerial view shows containers at the Balboa Port

Containers lie on the dockside at a port on the Panama Canal operated by a unit of CK Hutchison. The Hong Kong conglomerate had been expected to finalize the sale of this and dozens of other ports next week, but a report on March 28 suggested the signing may be delayed. © Reuters

KENJI KAWASE

March 28, 2025 17:46 JST

Updated on March 28, 2025 23:09 JST

HONG KONG -- China's market regulator on Friday said it will review Hong Kong conglomerate CK Hutchison Holdings' deal to sell dozens of global port assets, including two at the Panama Canal, to a consortium led by U.S. investment fund BlackRock.

The announcement by China's State Administration for Market Regulation (SAMR) marks the latest twist in a saga that started earlier this month, when the group controlled by tycoon Li Ka-shing's family agreed to unload the ports. The arrangement -- which came in the wake of U.S. President Donald Trump's vows to wrest control of the Panama Canal away from China -- sparked relentless criticism from Chinese state media.