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China tells state firms to halt deals with Li Ka-shing and his family, Bloomberg News reports

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China has instructed state-owned firms to pause new deals with businesses linked to Hong Kong billionaire Li Ka-shing and his family after his plan to sell two ports in Panama to a BlackRock-led consortium,
According to a Bloomberg News report, China has instructed its state-owned enterprises to pause business dealings with Hong Kong billionaire Li Ka-shing and his family. This directive comes amidst heightened scrutiny of business ties between Hong Kong and mainland China, particularly in light of national security concerns. Li Ka-shing, known for his extensive business empire spanning ports, retail, and utilities, has been a significant figure in both regions. The move reflects China's ongoing efforts to tighten control over economic activities that could potentially influence its political landscape, especially following the implementation of the national security law in Hong Kong. This development could have implications for Li's companies, which have substantial investments in mainland China, potentially affecting their operations and future business strategies.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/economy/china-tells-state-firms-to-halt-deals-with-li-ka-shing-and-his-family-bloomberg-news-reports/ar-AA1BJUcR ]