China has directed state-owned firms to stop new deals with a Hong Kong company owned by billionaire Li Ka-Shing over its impending sale of two Panama Canal ports to a U.S.-led consortium.
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00:00China is directing all state-owned firms to stop new deals with Hong Kong company CK Hutchison
00:06over its plan to sell two ports in the Panama Canal.
00:10That's according to a report from Bloomberg.
00:13It's the latest development in the US$19 million proposal to sell the ports to a consortium
00:18led by US firm BlackRock.
00:21China has previously called the move a betrayal.
00:23CK Hutchison owner Li Ka-ching has so far ignored the growing pressure from China to
00:29stop the sale.