Entering ChinaAccording to a report by Hong Kong media on March 18th, the company of Li Ka-shing, namely Cheung Kong Holdings, intends to sell a large number of ports to an American consortium, including two ports of the Panama Canal.
On March 18th, before attending the executive council meeting, Chief Executive of Hong Kong Carrie Lam met with reporters and put forward three viewpoints on this matter: First, the public concern over the incident deserves attention. Second, the SAR government demands that foreign governments provide a fair environment and fair treatment for enterprises and opposes coercive and pressuring tactics. Third, any transaction must comply with legal and regulatory requirements. The Hong Kong government will handle it in accordance with the law and regulations.
Recently, the website of the Hong Kong and Macao Affairs Office of the State Council has continuously reposted commentaries discussing the plans of Hutchison Whampoa to sell assets such as the ports at both ends of the Panama Canal. These commentaries have also been reposted on the website of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region.
According to previous reports, on March 4th, Hutchison Whampoa (00001.HK) issued an announcement, stating that it had reached a principle agreement with a consortium led by BlackRock of the United States to sell 80% of its assets of Hutchison Ports Group to the consortium. The consortium would acquire the port and logistics network it operates and owns in 23 countries, including the Balboa and Cristobal ports at both ends of the Panama Canal.
