Hutchison ports deal: China’s foreign ministry tells parties to ‘act prudently’

China’s foreign ministry has urged all parties in the controversial sale of CK Hutchison Holdings’ overseas ports to “act prudently” and stay in touch with Beijing amid a report that the Hong Kong conglomerate’s two Panama Canal facilities may be separated from the deal.

Foreign ministry spokesman Guo Jiakun said on Monday that authorities had taken note of the media report that the family behind the Mediterranean Shipping Company (MSC) was in talks to press on with the US$23 billion deal after carving out the Panama ports.

He added that the ministry was aware of concerns raised by China’s market regulator.

“China firmly opposes any use of economic coercion or bullying that undermines the legitimate rights and interests of other countries. We hope relevant parties will act prudently and maintain sufficient communication with Chinese authorities,” Guo said.

“At the same time, we would like to reiterate that China remains committed to reform and opening up, and welcomes foreign companies to invest in China.”

Echoing the response by the State Administration for Market Regulation, which released a statement on Sunday over the same report, Guo said Chinese authorities would investigate the deal in accordance with the law and warned all parties involved not to circumvent the process.