Hong Kong-based conglomerate CK Hutchison is facing intense criticism from Beijing over its ports sale to a BlackRock-led consortium, fuelling speculation as to whether China could take steps to scupper the deal.

The statements took shots at CK Hutchison's $23 billion sale of the Panama Canal-adjacent ports to BlackRock as "bullying" without mentioning the U.S. by name.

The city’s chief executive said a deal between the Hong Kong conglomerate CK Hutchison and BlackRock, a major American investment firm, requires “serious attention.”