According to Bloomberg, the order was given to state-owned businesses last week at the urging of senior officials, citing people with knowledge of the situation. Existing tie-ups are unaffected.
In an effort to know the scope of their business dealings, Chinese regulators are also looking at the family’s investments both domestically and abroad.
By noon, CK Hutchison Holdings ‘ shares increased by 1.2 percent, down from a gain of as much as 3.6 % earlier in the day.
Ta Kung Pao, a pro-Beijing newspapers in Hong Kong, has published a number of commentary articles in recent months that criticize the agreement because it violates China’s national pursuits and portrays it as a betrayal of China.
The Hong Kong and Macau Affairs Office of China’s reposted some of the essays on their websites, which fueled rumors that Beijing might attempt to halt the price.
A resource has told Reuters that Chinese regulators have begun looking into the deal in response to the main leadership’s instructions. This is a sign of Beijing’s dissatisfaction with CK Hutchison’s withdrawal under alleged US stress.
After recently calling for the removal of the Panama Canal under Chinese control, US President Donald Trump has welcomed the transaction.