China vows to protect Chinese firm's rights after Panama annuls port contract

BEIJING: Chinese Foreign Ministry spokesperson Guo Jiakun said on Friday that China will take all necessary measures to safeguard the legitimate rights and interests of Chinese companies, after Panama's Supreme Court annulled the contract granted to a subsidiary of Hong Kong-based CK Hutchison Holdings Limited to operate ports on the Panama Canal.

China will take all necessary measures to resolutely safeguard the just and legitimate rights and interests of the Chinese companies, Guo said.

Panama's Supreme Court annulled the contracts that allow Panama Ports Company (PPC), a subsidiary of CK Hutchison Holdings Limited, to operate two container ports on the canal, ruling a concession held by the firm is "unconstitutional."

In a statement published on Thursday, the company said, "The PPC concession contract was the result of a transparent international bidding process," and it has "complied with its contractual and legal obligations, including audits conducted by the State, always acting with complete transparency and a full willingness to cooperate."