Beijing’s public support for criticism of Hong Kong’s CK Hutchison Holdings’ decision to sell off its Panama port assets is designed to send a message to every mainland and Hong Kong company doing business overseas.
And observers say the implication is clear: you are expected to put patriotism before profits, and stand up to foreign pressure.
“Beijing is trying to be as unequivocal as possible,” said David Zweig, professor emeritus of social science at the Hong Kong University of Science and Technology.
“The message is: when a line about national interests is drawn, companies – mainland, Hong Kong or overseas ones – must fall into line.”
However, experts also point out that Beijing may need to exercise caution, as this harsh approach risks spooking foreign investors that are already concerned by the uncertainty caused by rising US-China tensions.
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