China will resolutely safeguard the legitimate rights and interests of the company in question, Foreign Ministry spokeswoman Mao Ning said on Tuesday, following a takeover by Panamanian authorities of two Panama Canal ports operated by CK Hutchison.

Speaking in a regular press briefing in Beijing, Mao reiterated that China's stance on the port-related issues in Panama is clear, saying the relevant firm had issued a statement, indicating that it reserves all rights, including resorting to legal procedures.

The comments came after authorities in the Central American country officially cancelled contracts with the conglomerate to operate the ports of Balboa and Cristobal, near the Panama Canal.

In Hong Kong, Secretary for Commerce and Economic Development Algernon Yau delivered a stern protest to the Panamanian Consul-General, expressing the SAR government's strong opposition to the takeover of ports.

Yau said the SAR government was strongly dissatisfied and opposed to the move by Panama.

"The forcible takeover and the revocation of operating rights... undermine the spirit of contract," he said in a statement.

"[We] emphasise our firm support for and protection of the lawful rights and interests of Hong Kong enterprises overseas."

A government spokesperson noted the Panamanian government took over the ports despite arbitration proceedings initiated by the company concerned, and that the SAR administration condemned the move and described it as "a brutal act".

CK Hutchison, for its part, described the takeover as unlawful, stressing that the firm and its subsidiary operating the ports would continue to consult its lawyers and reserve all rights and recourse against the country and other parties.

"None of the actions by the Panama State were advised to or co-ordinated with [our subsidiary, Panama Ports Company]," it said in a statement.

"The Panama State is responsible for harm and damage caused by the confiscatory actions it has taken."

Panama's Supreme Court had ruled to cancel the contracts last month, citing constitutional violations.

The country officially gazetted the ruling on Monday to finalise the cancellation. The move clears the way for APM Terminals – a subsidiary of the Danish shipping firm Maersk – to take over temporarily.

Last week, CK Hutchison warned of possible legal action against Maersk and others. It also said it would challenge Panama's decision at the International Chamber of Commerce.
_____________________________
Last updated: 2026-02-24 HKT 17:07



Edited by Edmond Fong