China’s top office on Hong Kong issues reposted a sharp attack on CK Hutchison Holdings Ltd. for agreeing to sell a controlling stake in Panama ports, warning companies to be very careful about which “side they should stand on.

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.

The Hong Kong conglomerate CK Hutchison’s planned sale of ports in Panama to a group led by BlackRock, the American finance giant, is under fire from Beijing.