China Delays $23B Panama Canal Port Sale Over Antitrust Probe

Beijing's intervention stalls CK Hutchison's sale to a U.S.-led consortium, intensifying U.S.-China tensions over strategic infrastructure.

China's State Administration for Market Regulation launched an antitrust investigation, halting CK Hutchison's $23 billion sale of 43 global ports, including two at the Panama Canal, to a U.S.-led group led by BlackRock.
The deal, initially set for an April 2 signing, remains in limbo with no new timeline confirmed, as Beijing's objections highlight concerns over national security and geopolitical leverage.
Chinese President Xi Jinping reportedly expressed anger over CK Hutchison's decision to proceed without consulting Beijing, framing the sale as a betrayal of Chinese interests.
The delay underscores broader questions about Hong Kong's autonomy and its role as a global financial hub, as Beijing's control over Hong Kong businesses becomes increasingly evident.
U.S. President Donald Trump has championed the deal as a strategic move to reduce Chinese influence over critical trade routes, particularly the Panama Canal.