Trump’s ambitious plan to acquire strategic ports in the Panama Canal has ignited a wave of sharp criticism from senior officials in both China and Hong Kong. These officials have strongly voiced their opposition to the potential sale of the ports, to a consortium spearheaded by the multinational investment management corporation BlackRock. They argue that if the deal were to proceed, it would have severe financial repercussions, significantly devaluing the shares of the Hong Kong-based conglomerate that currently owns and operates these vital ports.
So far, it's unclear how the Chinese government intends to prevent the deal from going through, given that the ports in question are located outside both Hong Kong and mainland China, leaving Beijing with no direct legal authority over them. However, a recent statement issued by China’s Foreign Ministry suggests that the Chinese government may have devised a plan to intervene and block the sale, though the specifics of such a plan remain undisclosed.
I would like to emphasize that China has always firmly opposed the use of economic coercion, hegemony and bullying to infringe upon the legitimate rights and interests of other countries.
Mao Ning, spokesperson for the Chinese foreign ministry
Additionally, there are reports that market regulators, along with several other Chinese government agencies, have been instructed by state authorities to conduct a thorough assessment of the potential security risks that this deal may pose to China, confirming the intent of the Chinese state to confront the purchase plan made by Trump.