HONG KONG: Criticism of Hong Kong conglomerate CK Hutchison’s sale of its Panama Canal ports deserves “serious attention”, city leader John Lee said on Tuesday (Mar 18) after Beijing authorities repeatedly slammed the deal.
The business empire of Hong Kong’s richest man, Li Ka-shing, sold most of its port operations – including those in the canal – to a United States-led consortium this month following pressure from United States President Donald Trump.
Two Chinese government departments managing Hong Kong affairs republished newspaper articles last week that blasted the transaction and questioned whether CK Hutchison sided with the US over China.
“There have been extensive discussions in society about the issue and this reflects society’s concern over the matter,” Lee, the chief executive of the largely autonomous Chinese city, told reporters.
“These concerns deserve serious attention.”
For months, Trump has complained that China controls shipping in the Panama Canal, which was built by the US more than a century ago to link the Pacific and Atlantic oceans.
The US president repeatedly threatened to “take back” the canal, which was handed over to Panama in 1999.
Before the sale, CK Hutchison’s subsidiary in Panama had managed two of the five ports at the canal – one on the Cristobal side and the other on the Balboa side – via a government concession since 1997.
CK Hutchison, one of Hong Kong’s largest conglomerates, earlier said the deal was unrelated to recent political news.
Source: CNA
