China announced today that its regulatory body will review the agreement to sell two Panamanian ports by Hong Kong group CK Hutchison to an American consortium, and expressed repudiation of the "economic coercion".
At a press conference, Foreign Ministry spokesman Lin Jian said that the State Administration for Market Regulation “is aware of this transaction and will examine it in accordance with the law, to safeguard fair competition in the market and protect the public interest”.
Lin Jian added that Beijing “firmly opposes any action that uses economic coercion, harassment or hegemony to infringe on the legitimate rights and interests of other countries”.
The agreement, valued at around 23 billion dollars (more than 21 billion euros), provides for the transfer of 90% of the stakes in the ports of Balboa and Cristobal, currently operated by CK Hutchison.
The agreement was described by US President Donald Trump as a “recovery” of US control over the Panama Canal and raised concerns in Beijing, which lamented the loss of influence in a strategic enclave.
China's anti-monopoly regulator announced today that it will examine the agreement, while the state press and official accounts compared the operation to “handing a knife to a rival”.
The Panamanian authorities have insisted that this is a transaction between private companies that has not yet received official approval.
No comments:
Post a Comment