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Willa Wu

Beijing has appointed a former executive of a state-owned shipping giant, which is eyeing a major stake in Hong Kong conglomerate CK Hutchison’s stalled global ports sale, as a deputy director at its liaison office in the city.
Zhang Yong, who previously served as executive vice-president of the Cosco Shipping Group, will replace Qi Bin, who was appointed in November 2024, according to an announcement from the Ministry of Human Resources and Social Security on Wednesday.
The liaison office’s website was updated on the same day, with Zhang listed as the fourth deputy director. His biography notes that he used to work at the Office of the Central Financial and Economic Affairs Commission.
Cosco has been in the spotlight since late July, when the media identified it as a “major strategic investor” invited by Hong Kong tycoon Li Ka-shing’s CK Hutchison to join a consortium seeking to acquire the latter’s global port stakes.
This came after a deadline for exclusive talks on the US$23 billion deal for the sale of CK Hutchison’s stakes in 43 ports – including two at either end of the Panama Canal – expired on July 25.
The move was seen as CK Hutchison’s attempt to appease Beijing, which had issued a series of criticisms slamming the conglomerate’s plan to sell an 80 per cent stake in its port assets to a Western consortium led by BlackRock as a “betrayal” of national interests.
Beijing has since reportedly hardened its stance, demanding that Cosco obtain a majority stake and veto rights in CK Hutchison’s global portfolio as a condition for regulatory clearance.
As of late December, negotiations remained deadlocked.

CK Hutchison’s co-managing director, Frank Sixt, earlier confirmed that the deal’s completion would be delayed until 2026.
Lau Siu-kai, a consultant for the semi-official Chinese Association of Hong Kong and Macau Studies think tank, said Zhang’s appointment might nudge the matter forward to some extent.
But its impact would be limited, as resolving the thorny ports sale hinged on broader shifts in US-China relations, he said.
“Importantly, Beijing expects Zhang to liaise across all sectors to align Hong Kong with the latest national development plan, given his background in the central government’s financial and economic office,” Lau said.
“This is to heed President Xi Jinping’s repeated calls for Hong Kong to further integrate into national development.”
The Post earlier learned that Qi, who turned 57 last month, would become a deputy director of an economic committee under the Chinese People’s Political Consultative Conference, the nation’s top political advisory body.
The committee advises China’s leadership on strategies for the nation’s 15th five-year plan, the new development blueprint to be launched next year.
Qi, dubbed by analysts as Beijing’s point man for financial matters in Hong Kong, used to be vice-president of sovereign wealth fund China Investment Corporation.
His appointment to the liaison office last year was seen by some analysts as a move to tap his knowledge of Hong Kong’s financial sector, enabling Beijing to better understand local dynamics and formulate more tailored policies for the city.
The central government’s liaison office is headed by Zhou Ji, a former executive deputy director of the State Council’s Hong Kong and Macau Affairs Office, who took up the position in May.
Zhou oversees four deputy directors, each covering different areas of expertise.


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Hong Kong

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Former executive of Chinese shipping giant Cosco will replace Qi Bin, who is set to take up role in top national advisory body


Former executive of Chinese shipping giant Cosco will replace Qi Bin, who is set to take up role in top national advisory body.


Ex-shipping leader joins Hong Kong liaison office amid stalled ports deal

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Former executive of Chinese shipping giant Cosco will replace Qi Bin, who is set to take up role in top national advisory body

Former executive of Chinese shipping giant Cosco will replace Qi Bin, who is set to take up role in top national advisory body