Li Jiachao: The Panama court ruling undermines investor confidence

The Supreme Court of Panama ruled that the contract extension for CKH HOLDINGS' Panama Canal port is unconstitutional. Chief Executive John Lee expressed strong dissatisfaction with this decision when he met with reporters before the Executive Council meeting this morning (10th). He emphasized that the Hong Kong Special Administrative Region (HKSAR) government has a clear stance against any foreign government using coercion, pressure, or other unreasonable political means in international economic and trade relations.

He pointed out that the Commerce and Economic Development Bureau summoned the Consul General of Panama in Hong Kong last week to express strong dissatisfaction with the ruling, believing that Panama's flip-flopping on legitimate economic and trade relations undermines Panama's credibility and will have far-reaching damage to the local business environment and economic development, severely disrupting international trade rules.

John Lee mentioned that the Ministry of Foreign Affairs of China has also clearly stated that China will take all necessary measures to firmly safeguard the legitimate rights and interests of Chinese enterprises, and the HKSAR government will fully support and cooperate with the measures taken by the country. He believes that this incident has damaged investors' confidence in the local business environment and will reconsider current and future investments in the area, hoping that Panama will seriously protect the legitimate interests of enterprises