Ta Kung Pao, the Chinese Communist Party’s (CCP’s) mouthpiece newspaper in Hong Kong, published an article on March 13, scolding Hong Kong businessman Li Ka-shing’s plan to sell the operating rights of 43 overseas ports, including two key ports in the Panama Canal, to the U.S. investment firm BlackRock {see https://chinascope.org/archives/36960}.
On March 21, Ta Kung Pao once again commented on the plan, threatening legal action:
“In recent years, the United States has labeled China as its ‘primary competitor’ and ‘most significant geopolitical challenge,’ employing measures such as technology blockades, trade wars, and supply chain decoupling to hinder China’s peaceful rise. Controlling global critical infrastructure is a key U.S. strategy, with ports being a primary target. The Panama Canal is a crucial maritime chokepoint, handling approximately 6 percent of global trade annually and serving as a key trade route between China and the Americas, making it highly significant to China’s national interests.
“This transaction is not merely an ‘ordinary commercial deal’ between enterprises but rather a perfect alignment with the U.S. strategy to contain China. If the ports in question are transferred to U.S. ownership, it could directly increase logistics costs for Chinese companies, weaken their international competitiveness, pose long-term threats to China’s manufacturing and foreign trade, and even impact the advancement of the Belt and Road Initiative.
“The Hong Kong law has this statement: ‘The highest principle of the ‘One Country, Two Systems’ policy (in Hong Kong) is to safeguard national sovereignty, security, and development interests.’ It is a legally binding provision. This transaction’s consequences – damaging China’s national security and development interests – directly violate this fundamental legal principle. Violating such a legal principle is, in itself, a violation of the law.
“Both the central government and the Hong Kong Special Administrative Region have legal mechanisms to address so-called ‘legal transactions’ that harm national interests.
“For entities and individuals who disregard the law and engage in activities detrimental to national security and development interests, their path will only become increasingly narrow.”
Meanwhile, despite scolding by Ta Kung Pao, it appears that Li Ka-shing has not entirely fallen out of grace with the CCP. Sound of Hope recently reported that Richard Li, Li Ka-shing’s younger son, was invited to attend the recent China Development Forum held in Beijing on March 23 and 24. As one of the representatives of the Chinese business community, Richard Li was photographed with Chinese Premier Li Qiang following a speech delivered by Li Qiang. The photo was released by national broadcaster China Central Television (CCTV), featuring Li Qiang in the center of the front row and Richard Li standing in the back row.
Source:
1. Ta Kung Pao, March 21, 2025
https://www.takungpao.com/opinion/233119/2025/0321/1070411.html
2. Sound of Hope, March 24, 2025
https://www.soundofhope.org/post/877436