Chinese leader Xi Jinping is angry about a Hong Kong company’s plan to sell Panama Canal ports to a U.S.-led group, in part because the company didn’t seek Beijing’s approval in advance, people familiar with the matter said.

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.

China does not seem pleased with the recent deal between a Hong Kong company and U.S. finance and investment firms for the ownership of certain ports on the Panama Canal