Controlling access to the Panama Canal at Balboa Port, the Cheung Kong Group led by Li Ka-shing has agreed to sell shares of its port company to the American investment firm BlackRock. Reports indicate that Cheung Kong is planning to bundle its assets, including the Panama port, for sale to a consortium led by BlackRock, possibly splitting the deal into two parts.

Beijing authorities reiterated on Sunday that this sale must "not evade review," indicating that the deal has become increasingly politicized and may be caught in the US-China confrontation. The State Administration for Market Regulation of China issued a statement in response to a reporter's question regarding the sale, stating, "We are highly concerned about this transaction and will carry out a legal review. Parties involved must not evade the review in any form; concentrated transactions cannot be implemented without approval, or they will bear legal responsibility."

The statement referenced a Wall Street Journal report which suggested that the sale may be divided into two separate transactions: one involving the two ports at either end of the Panama Canal to be sold as a bundle to BlackRock, and the other involving 41 additional ports around the world to be sold to the Italian shipping giant Aponte family’s Til Group. This division might be intended to expedite the process by first handling the most sensitive port in Beijing's eyes. However, due to Beijing's warning, this may not proceed smoothly.