An article published by Bloomberg on 18 March 2025, citing sources close to the matter, states that Chinese authorities are reviewing the deal reached between the Hong Kong conglomerate CK Holdings and the consortium formed by the US financial giant BlackRock and the Swiss shipping company MSC (through its subsidiary Til) to acquire Hutchison Ports' global port concessions, excluding those in China. The agency reports that several Chinese agencies, including the State Administration of Market Regulation, have received instructions from senior state officials to scrutinise the deal for potential security violations or breaches of antitrust regulations.
In theory, Beijing has no formal means to halt the sale, as the agreement is set to be ratified by 2 April 2025 and the terminals involved are all outside Chinese territory. Furthermore, CK Holdings derives only 12% of its revenue from China, with the remainder coming from operations in Europe, North America, and Australia. However, the conglomerate remains headquartered in Hong Kong and is owned by the Chinese tycoon Li Ka-shing, making it susceptible to indirect actions from Beijing. This concern was also reflected in the stock market, as shares of CK Hutchison dropped by 2.8% on 18 March following news of the investigation, despite the sale of Hutchison being widely regarded as a lucrative deal for the Hong Kong-based conglomerate.
A first sign of Beijing’s discontent emerged through a scathing editorial published in the Hong Kong newspaper Ta Kung Pao, which is considered pro-government and was subsequently echoed by the Hong Kong and Macau Affairs Office. In the article, the editorialist accused the conglomerate of "cowardly servility," a serious allegation in a nationalist country like China.
The Bloomberg article cites analyst Denise Wong, who suggests that a negative stance from Beijing could hinder CK Holdings’ future attempts to acquire assets abroad, as potential partners may be reluctant to get entangled in tensions between China and the United States. The company could also face difficulties within Hong Kong itself. A prominent political figure in the city, Leung Chun-ying, wrote on Facebook on 17 March that entrepreneurs who lack the support of their homeland end up as "orphans targeted by others."
