BEIJING: Chinese authorities have increased pressure on CK Hutchison Holdings Ltd over its plan to sell its Panama ports stake by sharing a second newspaper commentary attacking the deal.

Beijing has signaled its displeasure over CK Hutchison Holdings’ agreement to sell its majority controlling stake in Panama ports to a BlackRock-led consortium, sending shares in the Hong Kong-based company sharply lower.

The Hong Kong conglomerate CK Hutchison’s planned sale of ports in Panama to a group led by BlackRock, the American finance giant, is under fire from Beijing.

A strongly worded commentary, which attacked the US for pressuring the deal “through despicable means”, first appeared in Beijing-backed newspaper Ta Kung Pao in Hong Kong and was republished by China’s top office for the territory’s affairs late on Thursday.

Hong Kong billionaire Li Ka-shing has raised Beijing’s ire by agreeing to sell its control over ports in Panama to appease President Donald Trump. But there may be little the Chinese authorities can do to punish him for it.

China called the new plan for American investment firm Blackrock to buy two ports in the Panama Canal from a Hong Kong-based company "spineless groveling" and "a betrayal." The nearly $23 billion deal was considered a way to assuage concerns from president trump that China is quote "running" the canal.

BlackRock's landmark deal for two Panamanian ports is in danger of running aground, threatened by geopolitical forces outside of its control. Driving the news: Panama's Maritime A