Hong Kong billionaire Li Ka-shing has raised Beijing’s ire by agreeing to sell its control over ports in Panama to appease President Donald Trump. But there may be little the Chinese authorities can do to punish him for it.

The US$23 billion sale is not final, but needs no Chinese or Hong Kong approval, leaving CK Hutchison to decide whether to proceed, analysts say.

HONG KONG -- Chinese state media escalated criticism of CK Hutchison, the Hong Kong-based conglomerate owned by tycoon Li Ka-shing's family, arguing that its agreement to sell Panama Canal port assets to a consortium led by U.S. investment firm BlackRock is unpatriotic.