The Central News Agency of Taiwan recently reported that China’s State Administration for Market Regulation (SAMR) will review Hong Kong conglomerate CK Hutchison’s planned sale of its port operations to American company BlackRock. The review period could last up to six months. China’s Foreign Ministry stated today that it firmly opposes economic coercion that damages other countries’ legitimate interests.
According to The Paper (Pengpai News), at a regular press conference on March 31, Foreign Ministry spokesperson Guo Jiakun responded to questions about regulatory review of CK Hutchison’s port sale.
Guo stated, “We have noted the relevant reports,” emphasizing that “China has consistently and firmly opposed acts of economic coercion, hegemony, and bullying that infringe upon and damage other countries’ legitimate interests.”
SAMR’s Anti-Monopoly Bureau recently stated that they are aware of CK Hutchison’s planned agreement with US-based BlackRock regarding Panama port operations. The bureau will conduct a review according to law to protect fair market competition and safeguard public interest.
Chinese financial magazine Caijing reported on March 29 that under China’s anti-monopoly law, if cross-border transactions constitute business concentration and the operators’ turnover in China reaches reporting standards, the transaction must be reported to China’s anti-monopoly enforcement agency (SAMR) for approval before implementation.
According to Chinese regulations, the standard review period for business concentration is 180 days total, with possible extensions if further verification or evaluation is needed.
CK Hutchison, controlled by Hong Kong’s richest man Li Ka-shing’s family, had originally expected to sign the final agreement to sell interests in 43 global ports before April 2. The decision has drawn significant attention as it involves US pressure regarding Panama Canal port operations. Pro-Beijing newspaper Ta Kung Pao has published strongly-worded criticisms in recent days.
Sources close to CK Hutchison’s senior management indicated no agreement will be signed this week.
Source: Central News Agency (Taiwan), March 31, 2025
https://www.cna.com.tw/news/acn/202503310316.aspx