Any transaction must comply with legal and regulatory requirements, HKSAR CE on CK Hutchison's controversial Panama deals

After two central government bodies in Hong Kong reposted two opinion pieces criticizing CK Hutchison Holdings for its decision to sell ports in Panama and elsewhere to an investment group led by an American asset manager, Hong Kong Special Administrative Region Chief Executive John Lee said on Tuesday, before attending the Executive Council meeting, that the HKSAR government expects foreign governments to provide a fair and just environment for businesses, including Hong Kong enterprises, and opposes the use of coercion or pressure tactics in international economic and trade relations, Hong Kong media RTHK reported.

When commenting on the matter on Tuesday, Lee expressed three views, according to Wen Wei Po.

First, he noted that there has been much discussion in society about the issue, reflecting public concern, which deserves attention.

Second, he emphasized that the HKSAR government expects foreign governments to provide a fair and just environment for businesses, including Hong Kong enterprises, and opposes the use of coercion or pressure tactics.

Third, he stated that any transaction must comply with legal and regulatory requirements, and the HKSAR government will handle the matter in accordance with the law and regulations, Wen Wei Po reported.

Hong Kong-based Ta Kung Pao published two opinion pieces questioning the CK Hutchison's decision to sell the pots, on Saturday and Thursday respectively.

In the Saturday piece, it asked, "Why are so many important ports so easily transferred to the US forces that harbor malicious intentions? What kind of political calculations are hidden behind the so-called commercial behavior on the surface? Has the so-called 'shrewd' deal taken into account the interests of the country and the nation? Is such a choice actually helping the evildoers and bringing harm to China and the world?"

The article also warned if one fails to see clearly the true nature of those US politicians who "not only want money but also want you to die," and chooses to dance with them, one might perhaps manage to make a fortune for a while, but in the end, there will be no future, and what's more, one will incur the condemnation of history.  

Ta Kung Pao also published an opinion piece on Thursday saying that this deal is a hegemonic act in which the US uses its national power to usurp the legitimate rights and interests of other countries through coercion, pressure and inducement. It is a form of power politics dressed up as a "commercial act."

The article urged relevant companies to think twice about the nature and crux of the issue, and also ponder about what stance to take and which side to stand on.

The Hong Kong and Macao Affairs Office of the State Council, and the Liaison Office of the Central People's Government in Hong Kong Special Administrative Region have reposted on their websites the two opinion pieces published by Ta Kung Pao.

Leung Chun-ying, Vice Chairman of the CPPCC National Committee, published a post on social media on Monday, asking without naming anyone: "Do businessmen have a motherland?" Wen Wei Po reported on Tuesday.

Leung stated that some Hong Kong businessmen mistakenly believe in the notion that "business knows no borders" and assume that everything is purely business. However, businessmen without a motherland will only face bullying. He emphasized that businessmen should also prioritize their country.

He pointed out that American businessmen can only act in alignment with US interests and cannot do anything that goes against them. He concluded that this inherent relationship between American businessmen and their country applies equally to other nations, including the UK, Canada, and Singapore—"and China is no exception."

As the US is intensifying its efforts to undermine China's shipbuilding industry, shipping sector, and the Belt and Road Initiative in an attempt to contain China's rise, this deal will inevitably pose a threat to national interests and security, Lau Siu-kai, a consultant to the Chinese Association of Hong Kong and Macau Studies, told the Global Times on Tuesday.

"I believe that before making business decisions, CK Hutchison should fully and seriously consider the complexity of the international landscape and the well-being of the nation and its people. After all, key infrastructure holds significant strategic value, and its critical role in great-power competition should not be underestimated," Lau added.