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China on Friday said it would take "all necessary steps" to safeguard the lawful and legitimate rights of its companies after Panama's supreme court annulled key port contracts held by a subsidiary of Hong Kong-based CK Hutchison.

A cargo ship transits through Panama Canal Cocolí Locks in Panama City, Panama, February 21, 2025. (File photo: VCG)

The Hong Kong company issued a statement saying the ruling contradicted the legal framework under which the concession was approved by Panamanian authorities, Ministry of Foreign Affairs spokesperson Guo Jiakun said at a routine press briefing in Beijing.

"The company has reserved the right to pursue all available options, including legal proceedings," Guo said. "China will take all necessary steps to firmly safeguard the legitimate rights and interests of its enterprises."