On 21 March 2025, Ta Kung Pao, a Hong Kong daily considered close to the Chinese government, returned to the issue of the sale of Hutchison Ports – a subsidiary of the CK Hutchison Holdings conglomerate – to the consortium formed by BlackRock and MSC. The companies have reached a preliminary agreement, which is due to be ratified on 2 April. The newspaper had already criticised the deal, and its latest article focuses once again on the pending confirmation, calling on CK Hutchison Holdings to “stop the transaction and avoid miscalculations”. The article describes the move as a “national fire sale” and a “strategic blunder”.
The transaction is part of a broader divestment plan under which CK Hutchison aims to sell 43 port infrastructure assets located outside Hong Kong and mainland China, in a deal expected to generate over 19 billion US dollars in cash. While the agreement has been welcomed by US President Donald Trump as an “American regain of control” over a strategic asset, Ta Kung Pao has labelled it a direct threat to China's sovereignty, security and economic interests. The editorial leaves little room for ambiguity, referring to the deal as a “sellout of the Chinese people” and a display of “spineless servility” towards the United States.
Although CK Hutchison Holdings is not explicitly named, the newspaper clearly identifies BlackRock as the buyer and describes the transaction as “a concrete manifestation of the American strategy to pressure China by gaining control over key ports”. It highlights the Panama Canal – where two container terminals included in the sale operate at the Atlantic and Pacific ends – as a strategically vital asset for China, which is the canal’s second largest user. According to the newspaper, the sale of these ports could drive up logistics costs for Chinese companies and hinder the development of the manufacturing sector and export trade.
The accusations made in the 21 March article are serious: “It is no exaggeration to say that the transaction will bring endless trouble to China's economy and national interests once completed.” The piece also suggests that the sale may violate Hong Kong's laws on safeguarding national security and development, hinting at possible legal repercussions.
Several institutional figures, including Hong Kong leader John Lee, have voiced indirect criticism of the sale, adding to the public and political pressure on the company. Meanwhile, some Chinese state agencies have launched investigations into the agreement, looking into potential violations of national security or antitrust regulations.
