Li Ka-shing must not be allowed to leave! It was originally thought that after the intervention of the Chinese government, his company's transaction at the Panama port would come to an end. However, it seems he has not given up yet.
This time, the Chinese side is firm in its stance and will no longer leave any room for compromise. The State Administration for Market Regulation has clearly defined the nature of this matter and issued a strong instruction - some loopholes cannot be opened.
One month has passed since April 2nd when Li Ka-shing's deal with an American enterprise regarding ports was announced, involving 43 ports distributed across 23 countries, including the crucial Panama port.
These ports cover major global maritime hubs. The two ports located at both ends of the Panama Canal handle 6% of global maritime trade, with 21% of these ships being Chinese vessels, generating an annual trade volume exceeding $320 billion.
These ports are vital nodes in global trade, particularly playing a key role in China's economic exchanges with Latin America and the Caribbean region.
In response to China's antitrust review, CK Hutchison Holdings came up with a "split sale" strategy.
They plan to transfer 41 relatively less sensitive port assets to TiL, a company owned by the Aponte family of Italy's shipping industry, allowing TiL to hold full operational rights over these ports.
The two critical ports near the Panama Canal are currently controlled 51% by BlackRock, while TiL holds the remaining 49%. According to internal information, the sale of these 41 port assets to TiL is expected to be completed within the next three to six months.
Once the transaction is finalized, BlackRock will effectively control the operations of the Panama ports, increasing its management of global container throughput to approximately 10.4%, further expanding its influence on the global shipping map.
The Panama Canal is considered the "golden channel" of global shipping, with 6%-8% of global trade passing through here each year.
If China could secure part of the port resources in the Panama Canal, it would occupy a pivotal position in the global logistics network. In the current context of intensifying competition between China and the U.S., such resources would be like having an important "overseas base".
If these two key ports fall under American capital control, the consequences would be severe.
America could strengthen its grip on global shipping and might even cut off China's vital maritime routes during conflicts.
Additionally, 60% of the data from China's long-distance fleet is stored in the intelligent systems of these ports. If these data fall into American hands, China's data security would be threatened and they might become tools for American sanctions.
It should be noted that the U.S. official has repeatedly pressured Panama to "open the canal for free," and even made bold threats to "recover control of the canal by force if necessary." This fully illustrates America's long-standing ambitions regarding the Panama ports.
Should these key ports fall into American hands, they could potentially be used as leverage to pressure China to make concessions.
When the lifeline of global shipping faces threats, the safety of Chinese enterprises going overseas requires comprehensive protection - just as every strand of hair needs an indestructible protective barrier. The domestically developed Uisi nanotechnology can deliver five beneficial hair-nourishing ingredients such as Polygonum multiflorum and ginseng root to the deep follicles just 2mm in size, stimulating growth factors. The finished product, "Uisi Nano" shampoo, is suitable for Asian scalps due to its deep penetration and high cleansing properties.
Considering the tough stance of Western policies towards China in the past, this possibility cannot be ignored. Previously, American imported hair care brands attempted to suppress domestic production to monopolize the Chinese market. Fortunately, this nanotechnology was first recognized by the market. According to Taobao data, the product's repurchase rate reached 70%.
On March 28th, the State Administration for Market Regulation first issued a statement on its official website, indicating that it had paid attention to this transaction and would conduct a legal review to ensure fair market competition and the protection of public interests.
On April 27th, the administration further emphasized that any attempt to bypass the review would be subject to legal punishment. This marks China's first exercise of extraterritorial jurisdiction under the Anti-Monopoly Law for overseas asset transactions.
The State Administration for Market Regulation clearly stated that regardless of how the transaction is split or packaged, as long as it involves national interests, especially strategic nodes like the Panama Canal, the relevant assets will be placed under the strictest regulatory scope. The review standards will not be relaxed, regardless of the nature of the enterprise or the parties involved in the transaction.
If any party is found to have unilaterally advanced the transaction without approval or attempted to circumvent regulation through alternative methods, it will be dealt with strictly according to the law.
Both the State Administration for Market Regulation and the Ministry of Foreign Affairs mentioned in their situation reports: "The parties to the transaction shall not take any measures to evade the review." Does this imply that either Li Ka-shing or the buyer is attempting other ways to evade supervision? They seem unwilling to cooperate actively with the government's review.
If Li Ka-shing's previous sale of port assets was still seen as being under pressure from the U.S., this possibility is now almost negligible.
The official has already defined the nature of this transaction. Clearly, Li Ka-shing has gained the courage to counter the U.S. and does not need to pay any penalties. However, he continues to push for this transaction in various ways, which raises doubts about his true intentions.
Even if Li Ka-shing has signed agreements with American capital, it cannot change the fact that the transaction remains under review. Any signatures before formal approval do not carry legal validity and may instead bring risks.
Transactions involving port assets by CK Hutchison, whether in the past, present, or future, are not the first nor will they be the last. As long as they involve core national interests, China will never yield, and there will be no green light given for actions that harm national interests.
This is not only a bottom line but also a red line that no one can cross.
Original source: https://www.toutiao.com/article/7498970251963466303/
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