Hong Kong's Leader Amid Panama Canal Port Deal Controversy

Hong Kong's Chief Executive John Lee addresses the controversy over CK Hutchison Holdings' pending sale of Panama Canal port assets to BlackRock Inc. The deal has sparked tensions between Beijing and Washington, with Chinese media expressing disapproval and former U.S. President Donald Trump praising the agreement.

Hong Kong Chief Executive John Lee has found himself embroiled in a controversy over CK Hutchison Holdings’ agreement to sell its Panama Canal port assets to a consortium including BlackRock Inc. The proposed transaction has angered China and underscores the difficulties that business leaders face amid rising tensions between Beijing and Washington.

Lee, speaking during a weekly news briefing, emphasized the need for a fair trading environment and expressed concerns raised about the sale. However, he did not detail specific issues, nor did he directly address comments from U.S. President Donald Trump or criticize the family behind CK Hutchison.

The agreement, which remains under scrutiny by both Chinese media and U.S. political figures, involves the transfer of 43 ports across 23 countries. While the consortium stand to gain strategic assets, the broader implications for U.S.-China relations remain uncertain. The transaction awaits approval from Panama's government and excludes Hutchison's other port operations.

(With inputs from agencies.)