Beijing's veiled attack on Hong Kong's CK Hutchison for selling its Panama Canal ports by posting a blistering newspaper commentary against it is an attempt to pile pressure on the conglomerate to either axe the deal or negotiate better terms that protect the national interest,

An investor group backed by BlackRock agreed to buy a majority stake in the Hong Kong subsidiary that runs ports along either side of the Panama Canal, giving a U.S. firm control of key docks amid pressure from the White House to take them from China.

Beijing signaled its displeasure over CK Hutchison Holdings’ agreement to sell its majority controlling stake in Panama ports to a BlackRock-led consortium.

Hong Kong tycoon Li Ka-shing’s company CK Hutchison Holdings, which recently sold its Panama Canal ports, should think twice about which side it wants to stand with, according to a scathing newspaper commentary posted by Beijing’s top office for the city’s affairs on its website.

China’s top office on Hong Kong affairs has reposted an attack on CK Hutchison’s decision to sell its Panama Canal ports, amplifying a Beijing-backed newspaper’s warnings for the Li Ka-shing-owned conglomerate to “think twice” about which side it stands on.