The Ta Kung Pao newspaper on Wednesday renewed its criticism of the sale by CK Hutchison of its Panama Canal ports.
In an editorial, Ta Kung Pao said there would be severe consequences if the conglomerate continues on this "wrong path".
It said the deal to sell ports in Panama and elsewhere to an investment group led by the American firm BlackRock should not be considered a normal business decision on national security grounds.
Ta Kung Pao also said the proposed sale undermined China's national interests.