Panama Starts Audit of China-Linked Port Operator Amid Trump Takeover Threat
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Panamanian authorities have started an audit of a Chinese-linked company that operates two ports at either end of the Panama Canal, as President Donald Trump threatens to take back the waterway, citing China’s influence on the key U.S. trade route.
An audit team from the Office of the Comptroller General has begun a financial and compliance review of Panama Ports Co., which is controlled by a subsidiary of Hong Kong billionaire Li Ka-shing’s CK Hutchison Holdings Ltd., the office said Tuesday on social media platform X. The action is “aimed at guaranteeing the efficient and transparent use of public resources,” the office said.
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- Panamanian authorities are auditing Panama Ports Co., linked to Chinese billionaire Li Ka-shing, amid U.S. concerns over China's influence on the Panama Canal.
- Former President Trump has threatened to reclaim control over the canal, citing unfair treatment of U.S. ships and alleged Chinese involvement.
- Panama's leader refutes these claims, asserting the canal's neutrality and control under Panama, with both American and Chinese firms operating nearby ports.
- Hutchison Port Holdings Ltd.
- Hutchison Port Holdings Ltd. (HPH) is a subsidiary of CK Hutchison Holdings Ltd., controlled by Hong Kong billionaire Li Ka-shing. It operates two ports at either end of the Panama Canal through Panama Ports, with a concession renewed through 2046. HPH manages a network of 53 ports across 24 countries in Asia, the Middle East, Africa, Europe, the Americas, and Australasia.
- Panama Ports Co.
- Panama Ports Co. is controlled by a subsidiary of Li Ka-shing’s CK Hutchison Holdings Ltd. It operates two ports at either end of the Panama Canal under a 25-year concession granted in 1997, which was renewed until 2046. The company is under audit by Panamanian authorities for a financial and compliance review to ensure transparent resource use. The audit follows U.S. concerns over China's influence on the canal.
- CK Hutchison Holdings Ltd.
- CK Hutchison Holdings Ltd., controlled by Hong Kong billionaire Li Ka-shing, operates the Panama Ports Co. through its subsidiary, Hutchison Port Holdings Ltd. (HPH). HPH managed ports at both ends of the Panama Canal under a concession and renewed it through 2046. The company oversees a network of 53 ports across 24 countries, including regions in Asia, the Middle East, Africa, Europe, the Americas, and Australasia.
- 1977：
- President Jimmy Carter signed a treaty with Panama to gradually hand over the Panama Canal to the Panamanian government.
- 1997：
- Panamanian authorities granted a 25-year concession to Hutchison Port Holdings Ltd. to operate two ports at either end of the Panama Canal.
- 2021：
- Hutchison Port Holdings Ltd. won a renewal of the concession through 2046.
- December 2024：
- Trump reiterated comments that Panama should return the waterway to the U.S.
- Late December 2024：
- Trump's former chief of staff, Mick Mulvaney, told the media it was unlikely the U.S. would send troops to regain control of the Panama Canal.
- January 20, 2025：
- Trump vowed in his inaugural speech to take back the Panama Canal.
- By January 21, 2025：
- Panama's President Jose Raul Mulino published a statement rejecting Trump's comments.
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