Hong Kong-based conglomerate CK Hutchison have entered into a landmark transaction of selling a majority stake in its ports business, including assets along the Panama Canal, to a BlackRock-led consortium for $22.

China has sharply criticized a proposal to sell ports in the Panama Canal to American asset management giant BlackRock, attacking the deal as “spineless groveling” and a “betrayal” of the Chinese people.

CK Hutchison Holdings Ltd. shares plunged Friday after China’s top office on Hong Kong affairs reposted a sharp attack on the conglomerate’s decision to appease President Donald Trump by selling its stake in Panama ports.