There was never a question that CK Hutchison’s sale of its Panama Canal port assets to a BlackRock-led consortium might face backlash from China. The deal helped its owner, Hong Kong billionaire Li Ka-shing,

China has issued a strong directive to its state-owned enterprises, ordering them to halt any new business deals with firms linked to Hong Kong billionaire Li Ka-shing and his family. China Freezes New Deals With Li Ka-shing’s Companies This move follows Li’s company,

NEW YORK] China has told state-owned firms to hold off on any new collaboration with businesses linked to Li Ka-shing and his family, according to people familiar with the matter, after the Hong Kong billionaire irked Beijing with his plan to sell two Panama ports to a global consortium.