AsianFin -- Beijing has instructed state-owned enterprises to suspend new collaborations with companies tied to billionaire Li Ka-shing and his family, following the Hong Kong tycoon's controversial move to sell two Panama ports to an international consortium, according to people familiar with the matter.

The order, issued last week at senior officials' direction, temporarily blocks state firms from securing approvals for deals involving Li-affiliated businesses, though existing partnerships remain unaffected, said the sources, who requested anonymity discussing sensitive matters.

Authorities are also conducting a comprehensive review of the Li family's domestic and overseas investments to map their global business footprint, the people added. The scrutiny comes after Li's Hutchison Ports agreed in April to sell its stake in Panama's Balboa and Cristobal terminals to Switzerland's MSC Group, a $1.4 billion deal that reportedly raised concerns in Beijing about strategic infrastructure falling under foreign control.