BEIJING has told state-owned firms not to collaborate with businesses linked to Hong Kong tycoon Li Ka-shing or his family, after the pending sale of two Panama Canal container terminals, reports Bloomberg.
Pressure was felt from ramped up US national security concerns, which did not like Chinese firms having major assets in Panama.
The directive was issued to state-owned enterprises last week at the behest of senior officials, the people said, asking not to be identified discussing private matters. Existing tie-ups are not affected, they said.
Under the directive, state enterprises wouldn't immediately get approval for business activities linked to the tycoon.
The regulators are also reviewing what investments the family has in china and abroad in a bid to better understand the breadth of their business dealings, the people said.
CK Hutchison Holdings, CK Asset Holdings, Horizons Ventures and Pacific Century Group didn't respond to requests for comment.
The State-owned Assets Supervision and Administration Commission, an agency overseeing Chinese state companies, and the Ministry of Commerce also didn't respond.
SeaNews Turkey
Pressure was felt from ramped up US national security concerns, which did not like Chinese firms having major assets in Panama.
The directive was issued to state-owned enterprises last week at the behest of senior officials, the people said, asking not to be identified discussing private matters. Existing tie-ups are not affected, they said.
Under the directive, state enterprises wouldn't immediately get approval for business activities linked to the tycoon.
The regulators are also reviewing what investments the family has in china and abroad in a bid to better understand the breadth of their business dealings, the people said.
CK Hutchison Holdings, CK Asset Holdings, Horizons Ventures and Pacific Century Group didn't respond to requests for comment.
The State-owned Assets Supervision and Administration Commission, an agency overseeing Chinese state companies, and the Ministry of Commerce also didn't respond.
SeaNews Turkey
