Hong Kong tycoon Li Ka-shing’s business empire is in the crosshairs after CK Hutchison Holdings chose to sell its Panama Canal port assets to a consortium that includes U.S. investment firm BlackRock Inc., apparently angering Beijing.
Over the past week, Beijing’s Hong Kong affairs offices have posted scathing commentaries from a local state-backed media outlet over the tentative deal by Hutchison, which is controlled by Li’s family.
That raises questions about the deal and highlights the difficulties Hong Kong businesses face as they balance demands from Beijing for national loyalty and their own capitalist interests in the once free-wheeling Asian financial hub. Here’s what to know about the issue.
Credit: APnews