China Condemns $23 Billion Sale of Panama Canal Ports to BlackRock

Beijing criticizes Hong Kong-based CK Hutchison for selling key port assets, citing national interest concerns and escalating U.S.-China tensions.

CK Hutchison announced a $23 billion deal to sell 80% of its global ports business, including two Panama Canal ports, to a BlackRock-led consortium.
China's state-backed media and government offices denounced the sale as a betrayal of national interests and accused CK Hutchison of prioritizing profits over patriotism.
The deal has been framed as part of U.S. efforts to reduce perceived Chinese influence over the Panama Canal, a critical trade route.
Shares of CK Hutchison fell over 6% following Beijing's criticism, raising investor concerns about potential fallout for the company.
Analysts note the sale is strategically beneficial for CK Hutchison, allowing it to divest politically sensitive assets at a strong valuation.