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1 month ago
23
Source: AFP
Hong Kong person John Lee connected Tuesday said disapproval of metropolis conglomerate CK Hutchison's merchantability of its Panama Canal ports deserved "serious attention", aft Beijing authorities repeatedly slammed the deal.
The concern empire of Hong Kong's richest man, Li Ka-shing, sold astir of its larboard operations -- including those successful the canal -- to a US-led consortium this period pursuing unit from US President Donald Trump.
But Beijing has upped unit connected the steadfast since, with 2 Chinese authorities offices managing Hong Kong affairs republishing paper articles past week blasting the transaction and questioning whether CK Hutchison sided with the United States implicit China.
"There person been extended discussions successful nine astir the contented and this reflects society's interest implicit the matter," Lee, the main enforcement of the mostly autonomous Chinese city, told reporters.
"These concerns merit superior attention."
Bloomberg News reported connected Tuesday, citing unnamed sources, that elder Chinese leaders person ordered respective authorities agencies -- including the State Administration for Market Regulation -- to scrutinise the deal.
This introspection by Beijing does not needfully effect successful follow-up action, the sources told Bloomberg, asking not to beryllium identified to sermon backstage deliberations.
Shares of CK Hutchison successful Hong Kong fell astir 4 percent connected Tuesday morning.
For months, Trump has complained that China controls shipping successful the Panama Canal, which was built by the United States much than a period agone to nexus the Pacific and Atlantic oceans.
The US president repeatedly threatened to "take back" the canal, which was handed implicit to Panama successful 1999.
'Bullying tactics'
Before the sale, CK Hutchison's subsidiary successful Panama had managed 2 of the 5 ports astatine the canal -- 1 connected the Cristobal, Atlantic, broadside and the different connected the Balboa, Pacific, broadside -- via a authorities concession since 1997.
CK Hutchison, 1 of Hong Kong's largest conglomerates, said the woody was unrelated to caller governmental news.
Lee connected Tuesday urged overseas governments to "provide a just and conscionable environment" for Hong Kong enterprises, without calling retired the United States by name.
"We reason the abusive usage of coercion, of bullying tactics successful planetary economical and commercialized relations," helium said.
Lee said immoderate transaction indispensable comply with ineligible and regulatory requirements, adding that Hong Kong would "handle it successful accordance with the instrumentality and regulations".
The Hong Kong and Macao Work Office -- an bureau successful Beijing overseeing Hong Kong affairs -- republished a paper nonfiction past Thursday asking CK Hutchison "which broadside it stands on".
Two days later, it ran different portion captious of the deal, which was aboriginal republished by the Liaison Office, the apical Beijing authorization based successful Hong Kong.
AFP has contacted the conglomerate for comment.
Outspoken Hong Kong ex-leader CY Leung added to the chorus of criticism, saying "some Hong Kong businesspeople mistakenly judge that 'businesspeople person nary homeland'".
"American businesspeople tin and volition bash lone things aligned with US interests... the aforesaid applies to China," Leung wrote connected Facebook connected Monday.
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Source: AFP
