China’s top market regulator said it is closely monitoring CK Hutchison’s planned sale of most of its global ports business to a consortium led by BlackRock, warning that the transaction should not move forward without the required antitrust review. The deal has drawn particular attention because it includes two strategically located ports linked to the Panama Canal.

According to the report, the proposed sale has become increasingly politicized amid growing trade tensions between the United States and China. China’s State Administration for Market Regulation stated that no business concentration should be implemented without prior approval, otherwise the parties involved could face legal consequences.

The article notes that the transaction may be structured in two parts: one covering the Panama ports and another involving the rest of the assets included in the deal. It also highlights that former U.S. President Donald Trump had publicly praised the move, framing it as part of a broader effort to reclaim influence over the Canal, while Chinese state media criticized the sale as harmful to China’s interests.

CK Hutchison announced in March 2025 that it planned to sell its 80% stake in a ports business spanning 43 ports in 23 countries, in a transaction with an enterprise value of $22.8 billion, including debt. The report also noted that PSA International, which owns the remaining 20%, was exploring a sale of its own holding. Ports in Hong Kong and mainland China were not included in the transaction.

The development highlights the strategic importance of port infrastructure connected to the Panama Canal, where commercial, regulatory, and geopolitical interests continue to converge. As scrutiny intensifies, the outcome of the deal could carry broader implications for global shipping, terminal ownership, and the competitive balance surrounding one of the world’s most critical maritime corridors.