Central government bodies in charge of Hong Kong affairs on Thursday reposted another news article criticising a controversial deal by CK Hutchison’s to sell dozens of ports – including strategic assets along the Panama Canal – to a US consortium led by investment firm BlackRock.
The article by the Ta Kung Pao newspaper quoted business experts who questioned whether the Li Ka-shing-owned conglomerate had gotten the best deal it could have, stressing that businesses should “stand with the nation in the face of hegemonic bullying.”
The article noted that public opinions that the sale did not appear to conform to the business logic of maximising profits.
“Not only is the valuation of the assets low, but the decision was made very quickly, without adopting the ‘highest-bidder wins principle,” the article said.
“Western media reports have also pointed out that the US consortium had gotten a bargain.”
The Ta Kung Pao report also quoted Bai Ming, Deputy Director of the Ministry of Commerce’s International Market Research Institute, as saying the deal was done “quickly and cheaply”, noting that CK Hutchison did not launch a global bidding race to find the best deal to maximise profits as logic would dictate.
The report also said businessmen in Hong Kong should learn from the example of firms that had faced “unreasonable suppression” from the United States and yet chose to stand with the nation and prospered with the country’s support.
A member of the Chinese People’s Political Consultative Conference, Su Qingdong, was quoted as saying that all sectors of society expect the relevant firm to reconsider the deal from the country’s perspective, though there has not been a positive response so far.
This was the fourth Ta Kung Pao article lashing out against the sale that had been reposted by both the Hong Kong and Macau Affairs Office and the central government’s liaison office here.
Beijing offices again question CK Hutchison ports deal
2025-03-28 HKT 01:15
