China State Media Critiques CK Hutchison’s Panama Port Agreement in Quickly Erased Article

By Lewis jackson and Jenny Su

Hey there! So, here’s the scoop from Beijing. Recently, Chinese state media took a swing at CK Hutchison, a major player in Hong Kong, over its decision to sell off its ports near the Panama Canal to a group led by BlackRock. This all went down on social media last Saturday but was quickly pulled offline—talk about a fast exit!

The post from CCTV’s account on Weibo raised eyebrows by claiming that this sale could jeopardize China’s national interests.It even went so far as to say it was like “handing a knife to an opponent.” Ouch! The message suggested that CK Hutchison should tread carefully with deals that might not sit well with China.

But just moments after it hit the internet, poof—it disappeared! Whether it was taken down due to backlash or some other reason remains unclear. What we do know is that this incident underscores rising concerns within China regarding the deal. In fact, just before this drama unfolded, market regulators announced they would be taking a closer look at the transaction.

Adding another twist to the tale, reports surfaced on Friday indicating that CK Hutchison had postponed part of their sale process. However, insiders mentioned that they haven’t completely scrapped the deal yet.

So there you have it—a whirlwind of events surrounding CK Hutchison and its controversial port sale! Stay tuned for more updates as this story develops.

(Reporting by Lewis Jackson and Jenny Su in Beijing; Editing by William Mallard)

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