China’s criticism of a Hong Kong conglomerate’s deal to sell its ports business has raised stakes for the possible sale of Chinese-owned social media app TikTok in the United States. The move sharpens scrutiny of major Chinese business divestments involving American buyers, analysts say.
Chinese regulators have begun looking into CK Hutchison’s ports deal, which includes selling assets near the Panama Canal to a BlackRock-led consortium. Beijing’s criticism of the deal is part of its broader strategy to “adopt a more combative tone” toward the United States, according to U.S.-China relations expert Patricia M. Kim.
The scrutiny of the CK Hutchison deal is expected to cast a long shadow over deals involving Chinese and American companies amid growing tensions between the two nations. The criticism comes as TikTok faces concerns about its autonomy from its Chinese owner ByteDance and potential regulatory challenges in the United States.
In recent months, Chinese officials have indicated that Beijing does not want the company to be forced to sell control of the app to U.S. investors. A possible sale could lead to “damaging implications” for companies operating in Greater China, Asia, and around the world, according to Steve Vickers, CEO of a specialist consultancy.
The White House is playing an unprecedented role in the TikTok sale process, acting as an investment bank with Vice President JD Vance running the auction. The situation highlights the growing tensions between the United States and China, which could have significant implications for global businesses and trade relations.
Source: https://www.reuters.com/markets/deals/chinas-criticism-hutchison-ports-deal-raises-stakes-tiktok-us-sale-2025-03-21