The scrutiny follows growing concerns about national security and potential antitrust violations.
Bloomberg News reported that multiple Chinese agencies have been directed to examine the transaction, which has already attracted significant attention. The deal, valued at $22.8 billion, was announced earlier this month and involves the sale of most of CK Hutchison’s global ports business, including key assets close to the strategic waterway.
The sale had previously been praised by former US President Donald Trump, who has repeatedly accused China of seeking to exert control over the Panama Canal. However, the transaction has also sparked backlash in China. A week after the announcement, China's Hong Kong and Macau Affairs Office published articles criticizing the deal, calling it a betrayal of China's national interests.
The deal, which is still pending, is now under investigation by senior Chinese leaders for security risks and potential antitrust violations, according to sources cited by Bloomberg.
In response, a spokesperson from China’s Ministry of Foreign Affairs advised reporters to inquire with other Chinese authorities for further details on the investigation.
