China raises criticism of Li Kahan’s Blackstone Port Agreement

Chinese authorities attacked the deal by sharing a second newspaper commentary, which increased pressure on CK Hutchison Holdings Ltd.

The Hong Kong and Macau Affairs Office reposted its initial comments in Tagong on Saturday, saying that the Hong Kong company’s plan to sell the ports has attracted deep attention from the Chinese people and questioned whether the deal hurts China and contributes to evil.

“Why are so many important ports so easily transferred to the unconscious U.S. military? What kind of political calculation is hidden in the ostensible so-called business behavior? Great entrepreneurs have never been cold-blooded, speculating on the people seeking profits, but enthusiastic and proud patriots!” The newspaper’s opinion article said the publication tends to support Beijing’s policies.

The country’s top office in Hong Kong affairs Chinese government agencies first demonstrated their dissatisfaction with the deal by sharing earlier Ta Kung Pao comments. The position pushed CK and Hutchison to fall 6.4% on Friday, the biggest drop since 2020.

The conglomerate, founded by Hong Kong billionaire Li Ka-Shing, this month agreed to sell most of its global port operations to Blackrock Inc.

The first batch of comments about His Gonggong called on the company to be cautious about “what should we stand on”. It said social media users accused CK and Hutchison of “invertebral wear” and “selling” Chinese.

Under the agreement, CK Hutchison will sell 43 ports in 23 countries, while retaining facilities in mainland China and Hong Kong. The transaction is set to generate cash proceeds of more than $19 billion.

Since the deal only involves overseas assets, it is unlikely that Beijing’s signature will be required, but the recent attacks have raised concerns that China may intervene in some way.

Fresh public opinion articles praise the “heroic action” of Huawei Technologies founder Ren Zhengfei, a Chinese telephone and equipment manufacturer that has long targeted the United States and other Western countries.

“History and reality both put entrepreneurs at the forefront of facing bullying in the United States, and only by standing firmly with the country and defending their country bravely, win dignity and maintaining reputation,” the commentary said.

It says those who choose the opposite may “make a lot of money in a while, but ultimately they will have no future and assume the responsibility of history.”

On Sunday, calls and emails sent to CK Hutchison offices in Hong Kong failed to take place outside office hours.

The obvious expressions that Chinese authorities disapprove highlighted the balance bills faced by executives, which were trapped in an expanded Chinese-U.S. competition.

CK Hutchison and sister company CK Asset Holdings Ltd. were registered in the Cayman Islands, which was conducted in 2015 as part of a collective-wide reorganization. CK and Hutchison account for nearly 90% of that revenue from mainland China and Hong Kong.

Blackrock’s potential purchase will be one of the biggest acquisitions of the year.

Prior to the deal, Trump argued that China took over key waterways without providing evidence, and that the United States passed too many for ships. He had previously asked for lower costs to the U.S. Navy, otherwise Panama should return the canal to the U.S.

With the assistance of Alice Huang.

This article was generated from the Automation News Agency feed without the text being modified.