China says it will safeguard rights, interests of CK Hutchinson following Panama court-ordered takeover

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China will resolutely safeguard the legitimate rights and interests of relevant companies, its foreign ministry said on Tuesday, after Panama officially cancelled CK Hutchison's HKEX:1 port contracts.The Hong Kong conglomerate said on Tuesday that Panama authorities had threatened its employees with criminal prosecution if they defied orders to leave two strategic ports near the Panama Canal, after the country finalised the legal annulment of concessions for the Balboa and Cristobal terminals.The ports are at the centre of a legal battle that has embroiled Beijing and Washington.

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