China Ramps Up Criticism of Li Ka-shing’s BlackRock Ports Deal

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1. Chinese authorities have increased pressure on CK Hutchison Holdings Ltd. over its plan to sell its Panama ports stake to a consortium led by BlackRock Inc. The Hong Kong and Macau Affairs Office shared a second newspaper commentary attacking the deal, which was originally published in Ta Kung Pao, a publication that tends to support Beijing’s policies. The commentary questioned whether the deal was harming China and aiding the US, and accused CK Hutchison of prioritizing profits over national interests. The sale, which includes 43 ports in 23 countries, is set to generate over $19 billion in cash proceeds, but has sparked concerns that China may try to intervene despite not needing Beijing’s sign-off. The deal has become a symbol of the widening China-US rivalry, with Chinese authorities implying that companies should prioritize national interests over commercial gains, and comes after US President Donald Trump raised concerns about the ownership of the ports near the Panama Canal.

2. An important but overlooked aspect of this is the fact that the subject of this article, Li Ka-shing, has fallen out of [favor with the CCP](https://www.reuters.com/investigates/special-report/hongkong-protests-tycoons/) over the CCPs treatment of Hong Kong as well as their view of the business class within China. This is against the backdrop of the company in question, CK Hutchison [greatly reducing its mainland China exposure](https://archive.is/jhFXr).

   It’s much more likely this is an indicator that there is significant discontent within China with Xi as well as underlies the fact that there is a generally negative mood towards China’s economy today.

3. So china thinks foreign entities shouldn’t own ports abroad? Hmmmmmmmmmmmm ………

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