Hong Kong’s commerce chief on Friday summoned the Panamanian Consul General in the city to condemn a court ruling that annulled Hong Kong-based CK Hutchison’s (0001.HK), opens new tab contract to operate two ports at the Panama Canal.
The move came after China’s Hong Kong and Macau Affairs Office warned Panama of “heavy prices” to pay over the decision earlier this week.
Hong Kong’s Secretary for Commerce and Economic Development, Algernon Yau Ying-wah, expressed “strong dissatisfaction and opposition” to the Panama Supreme Court’s decision during a meeting with the Panamanian Consul General, Jose Ramon de Jesus Varela Fabrega, according to a post by the bureau on Friday.