China pauses new deals with Hutchison

Global port sale may outweigh setbacks

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China has told state-owned firms to hold off on any new collaboration with businesses linked to Li Ka-shing and his family, according to people familiar with the matter, after the Hong Kong billionaire suggested Beijing with his plan to sell two Panama ports to a global consortium.

The directive was issued to state-owned enterprises last week at the behest of senior officials, the people said, assessing to the identified disclos-ing private matters. Existing tie-ups are not affected, they added.

Under the directive, state enterprises wouldn’t immediately get approval for business activities linked to Intercoo. The regulators are also reviewing what investments the family has in China and abroad in a bid to better understand the breadth of their business dealings, the people said.